🌊 Wave Wisdom - December 23rd, 2023

DATA
Key Prices

BTC $43,573 (-0.38% 24h)

ETH $2,288 (-1.09% 24h)

SPY $473.86 (0.20% 24h)

DATA
Market Overview

Total Market Cap $1.66T (-0.39%)

Total Volume $86.31B (11.4%)

BTC Dominance 51.48% (-0.01%)

ETH Dominance 16.6% (-0.12%)

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 $5.42m TVL and 113.00% APY

DOLA-USDC on Aura with $3.87m TVL and 110.00% APY

MIM-ARBUSDCE-USDT (... on Beefy with $3.44m TVL and 66.00% APY

FRAX-USDP on Convex Finance with $3.23m TVL and 45.72% APY

USDT on Across with $3m TVL and 41.48% APY

IDAI-IUSDC-IUSDT on Convex Finance with $2.79m TVL and 35.71% APY

PUSD-FRAXBP on Curve DEX with $1.93m TVL and 32.63% APY

USDC (Dolomite Bala... on Dolomite with $1.68m TVL and 21.08% APY

USDC on Gearbox with $1.1m TVL and 20.65% APY

IBEUR-USDC on Curve DEX with $915,445 TVL and 20.03% APY

NEWS
News Snippets

Hong Kong says it's ready to accept spot crypto ETF applications - source

NY financial regulator approves Paxos expansion to Solana, allowing for its first stablecoin issuance beyond Ethereum - source

NEWS
Talk of the Town

Diving into today's newsletters, we've got a mix of insights and updates that'll keep you in the loop without the fluff.

Starting with Serenity Research, they're all about stablecoin yields, highlighting the Tsunami Demo Fund with an 84% APR, Aerodrome's eUSD-USDbC pool at 37%, and DoDoex's 58% yield on Scroll. They've also noted a surge in stablecoin transfers on Solana, hitting $16.6 billion. S&P Global's new stablecoin ratings put GUSD, USDP, and USDC on top.

Linn's Leverage is giving us the lowdown on the OATH Foundation's projects like ethos.finance and Reaper.Farm, and a shoutout to RabbitX for its no-fee, high-leverage trading. Thena's getting some love too, being pegged as a next-gen liquidity layer on the BNB Chain.

HFA Research is talking about the 1.03% increase in total stablecoin supply, hinting at bullish times ahead.

They've also pointed out Solana's volume outpacing Ethereum's, thanks to some meme coin action.

Blocmates are buzzing about a potential Bitcoin spot ETF approval on January 10th, with BlackRock and the SEC in the mix. They're also wrapping up 2023 with a look back at the year's crypto rollercoaster, from DeFi's rise to the AI revolution.

So, keep your eyes peeled and your wallets ready. Check out the sources for the full scoop:

Serenity Research Linn's Leverage The Daily Degen HFA Research Blocmates

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: 65 (30.0% 24h Δ)

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

@CryptoParadyme expressed a cautious bullishness, suggesting that once BTC surpasses $100k, it will be time to look for top market signals. They noted that SOL/ETH rotation is becoming an increasingly discussed trade and hinted at an angry ETH revenge pump possibly on the horizon for Q1.

@SalsaTekila hinted that the ETHBTC pair might have bottomed, implying a potential uptrend for Ethereum in relation to Bitcoin.

@Tradermayne shared a sense of irony and exasperation about the market being outperformed by meme trends like "dog wif a hat," despite years of developing trading expertise.

@Pentosh1 provided actionable insights on $ARB, stating it could attract more interest if it crosses the $1.70 mark and also mentioned $OP entering price discovery, showcasing a bullish stance on these assets.

@Etherean007 remarked on the wild side of trading, staying up late to trade low cap coins and suggesting that it's a skill issue if one can't pump a coin with a founder reply.

@Pool2Paulie offered mixed reviews about the market, laughing at the prospect of meme coins rising sharply, while also showing amazement at the rapid wallet growth of an omnichain meme coin.

@TraderKoz retweeted a security warning about the Gecko discord being compromised, indicating community vigilance in the space.

@HsakaTrades commented on the reckless nature of certain trades, referencing a substantial loss someone took by investing heavily into a low market cap project.

This mix of cautious optimism, strategic propositions, and occasional resignation to the whims of the market paints a complex picture of ct traders' perspectives, showcasing their readiness to adapt to a landscape that can be as maddening as it is rewarding.

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: 75 (15.4% 24h Δ)

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

@Cryp__toad is bullish on $CROWN, suggesting it could be a major player in web3 gaming. He also highlights a potential Nvidia announcement for $AGRS that could lead to a significant pump. Additionally, he's already seeing huge multipliers from $MOZ and expects more growth. BlackRock's plans to seed a Bitcoin ETF with $10 million also caught his attention, suggesting institutional interest in Bitcoin.

@KaminoCrypto is getting serious about @photofinishgame, signaling potential growth in that sector. He's also starting to favor HERA, noting its simplicity and potential as a multi-chain dex aggregator.

@0xFalcs is curious about when HTX will be listed and mentions the bridging to TRX and the interest in the Justin Sun memecoin $CCC.

@ItsAverageJO and @QuantMeta both cryptically tweeted about a coin that benefits from undisclosed news, represented by an owl emoji (ᯤ,ᯤ). They are referring to $WNT.

@Crypto_L00n sees potential in 3DPass $P3D from @3Dpass_official as a significant step towards real-world asset tokenization.

@CryptoKaduna warns against leverage and chasing memecoins, suggesting a conservative approach to Bitcoin and micro caps.

@toptickcrypto is calling for more tokens amidst the meme frenzy and seems to believe Eigen will be big next year.

@crypto_popseye retweeted about LP tokens being renounced for all 7 pairs of a certain project, hinting at potential trust in the project's longevity referring to $OMNI.

@zolandinho is excited about $moz, praising the team and the product idea, especially with its performance during an "arb szn."

@kevSandersonz thinks $LAI could be building the next big things in data management for decentralized AI, comparing it to $OCEAN and $TRAC.

@defi_antcrypto is celebrating a successful call on $OMNI and has taken some profits, while also hinting at a rotation to $SEN in the lending protocol space.

@0xGabbens is hyped about $LOS, an inverse $SOL token, and suggests it could follow in the footsteps of $ANALOS which saw significant growth.

@crypto_popseye is bullish on $OMNI, hinting at first mover advantage and rumors of a connection to a LayerZero team.

@ChadCaff encourages looking for unlimited opportunities and not being emotionally reactive.

@anger_trading is all-in on $DEXTF for 2024 and suggests taking the $MONKGG pill.

@TheEuroSniper is critical of @MEXC_Official for abnormal trading activities and advises against using the exchange.

@thedefivillain shares a series of tweets on various topics, including market analysis, trading advice, and the significance of Solana mania, but without specific token mentions.

Overall, the gem hunters are showing interest in a variety of tokens, with a particular emphasis on $OMNI, $LOS, and $CROWN due to their potential for significant growth and first-mover advantage.

Mentioned Coins

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

Wicrypt ($WNT) | DePIN

Arbitrum ($ARB) | Arbitrum Nova Ecosystem

Optimism ($OP) | Layer 2 (L2)

Gambex ($GBE) | NFT

Oasis Network ($ROSE) | Smart Contract Platform