🌊 Wave Wisdom - December 22nd, 2023

DATA
Key Prices

BTC $43,755 (-0.36% 24h)

ETH $2,314 (2.81% 24h)

SPY $471.33 (0.95% 24h)

DATA
Market Overview

Total Market Cap $1.66T (0.75%)

Total Volume $77.58B (5.72%)

BTC Dominance 51.49% (-0.56%)

ETH Dominance 16.72% (0.34%)

DATA
Chain TVL

DATA
Protocol/Chain Fees (24h)

The key to reading this graphic is to look for new entrants. This shows they are gaining adoption.

DATA
CEX Inflows & Volume

In order by assets

YIELD
Stablecoin Yields

Criteria: Stablecoins in audited pools with 20% or higher APY and greater than $200k TVL

IDAI-IUSDC-IUSDT on Curve DEX with $5.18m TVL and 115.00% APY

DOLA-USDC on Aura with $3.86m TVL and 112.00% APY

FRAX-USDP on Convex Finance with $3.22m TVL and 67.17% APY

MIM-ARBUSDCE-USDT (... on Beefy with $3.1m TVL and 51.73% APY

USDC (USDC lending ... on DeltaPrime with $3.09m TVL and 38.60% APY

USDT on Across with $2.96m TVL and 36.47% APY

IDAI-IUSDC-IUSDT on Convex Finance with $2.56m TVL and 34.40% APY

USDC (Dolomite Bala... on Dolomite with $2.11m TVL and 34.15% APY

USDT (USDt lending ... on DeltaPrime with $2.04m TVL and 32.87% APY

PUSD-FRAXBP on Curve DEX with $1.93m TVL and 20.45% APY

NEWS
News Snippets

BVI court freezes Three Arrows Capital founders’ $1 billion in assets - source

3AC liquidators estimate 46% recovery rate for creditors: Teneo report - source

Crypto miner Core Scientific expects to emerge from bankruptcy in January - source

Coinbase secures crypto license in France, expanding further in Europe amid rift with the SEC - source

Argentina's new government gives early nod to bitcoin, says crypto can be used in contracts - source

NEWS
Talk of the Town

Alright, let's dive into today's newsletters. We're sifting through the bullshit to bring you the gold nuggets of the day.

Starting with V369's flip-flop on a minting project, they've gone from bullish to bearish faster than a politician's promises. The mint was supposed to be free, then $500, and now they're pulling a "lol jk" with a Dutch auction starting at a whopping $9k. They even managed to screw up the launch after inscribing their collection before Bitcoin Frogs. Talk about dropping the ball.

The Daily Degen's got the scoop on Mux Protocol, which is raking in $4.2B in volume and $3m in fees, with over half of $MCB locked up for an average of 707 days. They're also getting a sweet 6M in ARB-incentives from the Arbitrum STIP campaign. Meanwhile, Solana, Sui, Waves, and Manta are flexing with at least a 15% increase in TVL. StakeStone, Yearn Finance, and Eigenlayer are doubling their TVL, too. And let's not forget the top 12 revenue-generating entities and the trending tokens.

Crypto Narratives is all about the market trends, with Bitcoin chilling between $41k to $44k and Ethereum waiting for ETF approval to make a move. Solana's flipping XRP and hitting $87, while $SOL's ecosystem tokens like $RAY and $ORCA are also on the up. Injective Protocol's $INJ is up 30% with a $3.

6bn cap, and Celestia's $TIA along with Avalanche's $AVAX are hitting all-time highs. SEI Network's $SEI is also making moves, climbing from $0.25 to $0.40.

The DeFi Investor is hyping up restaking, especially with EigenLayer's TVL surpassing $1 billion. They're suggesting using their app or other liquid restaking protocols to potentially snag some airdrops. Parallax Finance is also on the radar with their CALM vaults, aiming to maximize APYs with AI-driven strategies.

Finally, Crypto Distilled is celebrating their 50th issue by highlighting Bitcoin ETF ads, Solana's market cap overtaking Ripple's, and Argentina's Bitcoin-friendly moves. They're also eyeing the potential altcoin season and the rise of crypto equities.

So, if you're not too busy shitposting or trolling, check out these sources for more details. And remember, just because everyone's hyping up Solana doesn't mean you've missed the boat—there's always another wave to catch.

The Daily Degen Crypto Narratives The DeFi Investor Crypto, Distilled

SENTIMENT
Trader Thoughts

We bring you the best thoughts from top traders and assign a score to their bullishness. 1 being max bearish and 100 being max bullish.

Bullishness Score: 50 (-9.1% 24h Δ)

Let's dive into the ct traders' market outlook over the past 24h.

@Pool2Paulie is hedging bets, considering ditching some assets for ETH, hinting at a bullish ETH view.

@CryptoCred relayed a bearish sentiment from @Awawat_Trades, who implied a potential for a sharp drop, though contrastingly, he also suggested a dramatic rise could be just as likely.

@SalsaTekila sought functionality from @coingecko for market cap charts instead of price, noting it'd be useful for altcoins with intricate decimal pricing.

@Bluntz_Capital eyed the BRC-20 narrative, particularly $COM due to its recent dip and untapped exchange listing potential.

@deltaxbt advised focusing on capturing the majority of a market move rather than chasing the absolute bottom, suggesting this strategy leads to better performance and confidence in trades.

@RunnerXBT embraced the volatility, hoping for a BTC dip triggered by ETF approval to increase his long positions, indicating a bullish stance with a mix of hope and concern.

@trader1sz commented on BTC and ETH's choppiness and planned a stream to cover altcoins as requested by his followers, displaying a commitment to engage with the community despite market indecision.

@CryptoParadyme touched on a variety of topics, from the utility of BTC.D charts to watching the DXY and highlighting Solana's lack of a substantial retrace, signaling a diverse and watchful approach to the market.

@HsakaTrades shared a conservative move into ETH, possibly showing some cautious optimism.

@RunnerXBT mocked the impatient and overleveraged traders and shared a bit of FOMO, illustrating the restless energy in the market.

@TraderKoz showed loyalty to $SOL through tough times, suggesting belief in its recovery.

Finally, @deltaxbt joked with @RunnerXBT about a risky trust exercise with @winter_BBA, revealing the irreverent humor traders use to cope with the market swings.

Overall, ct traders are displaying a mix of cautious optimism, strategic positioning, and a hint of humor as they navigate the market's choppy waters.

SENTIMENT
Gem Hunter Thoughts

We bring you the best thoughts from top gem hunters and assign a score to their bullishness. 1 being max bearish and 100 being max bullish.

Bullishness Score: 65 (-7.1% 24h Δ)

Let's dive into what the gem hunters on ct are eyeing over the past 24h.

@anger_trading is keeping a close eye on $GBE, staking for a solid 17% APR and hinting at a bullish outlook for Gambex, especially with the casino season warming up. He's also signaling that $MONKGG from Monk.gg could see significant growth in the coming months.

@CryptoKaduna is bullish on $TRIAS, noting its limited supply and upcoming deflationary status, expecting FOMO to kick in. He's also not shy about his love for the project, especially with its mainnet launch on the horizon.

@Cryp__toad is hyping up $AGRS, suggesting a transformative moment akin to the internet with its logical AI and the potential to build dapps without coding experience.

@ChadCaff announced the launch of $AIT, the first project incubated by $PAAL, while @QuantMeta is placing bets on $WNT before it goes live on Arbitrum, anticipating it to be the first Depin on the platform.

@crypto_popseye sees potential in $OMNI as the first omnichain meme token, comparing it to successful first movers in other ecosystems.

@Cryp__toad also mentions $SOL and $NEON, predicting a rise for $NEON alongside $SOL, and praises $ROSE for its potential massive adoption.

@ZheBrigadier is diamond-handing $SEN and observing $ARB getting a bid, hoping for rewards.

@defi_antcrypto is intrigued by an Omni-chain Layer Zero powered cat coin, $OmniCatCoin, and he's gone heavy at 900k market cap based on solid intel about the team.

@toptickcrypto sarcastically comments on the crypto market's volatility and seems to be waiting for a significant move tied to a Bitcoin ETF approval.

@xingalong_ is all about $SMOL, endorsing following @Cryptik1E for wealth-related content.

@Rationalape1 found something interesting with $wBRGE, while @V2Chenz is watching $KUSA from KusaTech, a newly launched prediction/gamblFI platform.

@CryptoDet_ is wrapping up invites for UDAO, and @TheEuroSniper expects the market to be quiet for the next couple of weeks, with hopes for normie engagement post-Christmas.

@CryptoKaduna took profits from WIFI and RWN, now playing with house money, and @defi_antcrypto provided a comprehensive guide on using the LandX platform, particularly focusing on $LNDX.

These insights suggest that the crypto gem hunters are bullish on a variety of tokens, with a focus on unique use cases, upcoming launches, and platforms with strong fundamentals or innovative features.

Mentioned Coins

Disclaimer: This process is automated, so the links may be different than the coin actually mentioned.

Gambex ($GBE) | Gambling

Monk.gg ($MONKGG) | Gambling

TriasLab ($TRIAS) | BNB Chain Ecosystem

Agoras: Currency of Tau ($AGRS) | Artificial Intelligence (AI)

AICHAIN ($AIT) | Ethereum Ecosystem