🌊 Wave Wisdom - December 27th, 2023

DATA
Key Prices

BTC $42,969 (0.68% 24h)

ETH $2,282 (1.81% 24h)

SPY $474.07 (0.42% 24h)

DATA
Market Overview

Total Market Cap $1.68T (0.88%)

Total Volume $75.93B (1.87%)

BTC Dominance 50.28% (-0.04%)

ETH Dominance 16.39% (0.16%)

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 $1 TVL and 84.76% APY

USDC (USDC lending ... on DeltaPrime with $0 TVL and 82.18% APY

FRAX (Aggressive) on Vesper with $0 TVL and 68.73% APY

DOLA-USDC on Aura with $0 TVL and 37.38% APY

MIM-ARBUSDCE-USDT (... on Beefy with $0 TVL and 34.51% APY

FRAX-USDP on Convex Finance with $1 TVL and 34.35% APY

IDAI-IUSDC-IUSDT on Convex Finance with $1 TVL and 34.31% APY

USDC (Dolomite Bala... on Dolomite with $0 TVL and 27.93% APY

USDC (Clearpool Win... on Idle with $0 TVL and 25.49% APY

USDT (USDt lending ... on DeltaPrime with $0 TVL and 24.96% APY

NEWS
News Snippets

Mt. Gox reportedly starts repaying some creditors via PayPal - source

GRAYSCALE BITCOIN TRUST (BTC): BARRY E. SILBERT AND MARK MURPHY NOTIFIED OF THEIR RESIGNATION FROM BOARD OF GRAYSCALE INVESTMENTS - SEC FILING - RTRS - source

NEWS
Talk of the Town

Diving into today's newsletters, let's sift through the fluff and get straight to the substance.

Serenity Research dropped the lowdown on Match Finance, the new yield aggregator for Lybra Finance, a behemoth in the LSDfi space. Match Finance is making waves by allowing users to stake directly with ETH or stETH, bypassing the usual 2.5% LP stake requirement for LBR rewards. They're skimming 20% off the top of esLBR rewards for their trouble. Their IDO was a blink-and-you'll-miss-it affair, selling out in about 36 seconds flat. With a modest initial valuation of $5.6 million and a TVL of $10.8 million, Match Finance is one to watch.

Meanwhile, The Daily Degen shone a light on SilentDAO, a privacy-focused middleware project for the EVM. They're cooking up encryption solutions that could be game-changers. On the financial front, they've got the usual suspects: gold, oil, and treasury yields. But the real juice is in the TVL shifts, with Manta, Fusion, and Metis making some serious moves.

They're also flagging up some fresh meat on the block like Infernoswap and galoisperps, plus a heads-up on a security alert for telcoin.

And just when you thought it was all charts and numbers, there's chatter about the first memecoin on Manta, and xPet.tech Token (XPET) is being hailed as the STEPN of this cycle with a staggering 159% 24-hour jump. Not to mention some insider trading whispers around Metis that's got everyone's ears perked up.

So, keep your eyes peeled, and don't take your finger off the pulse. Check out the sources for the full scoop:

Serenity Research The Daily Degen SilentDAO Twitter DeFiLlama Twitter Infernoswap Twitter galoisperps Twitter telcoin Twitter ChainEDGE_io Twitter

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: 73

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

@Etherean007 is eyeing an ETH rotation before the year's end, implying a bullish stance and highlighting tax event trading strategies. He's also bullish on DOGE, dissing naysayers and suggesting that a proper bull run includes DOGE in the mix. He expresses stress from holding too many positions and reveals taking profit on OP and RNDR while also suggesting BNB could hit $400 if the market consensus is off. He hints at acting quickly during dips, showing his aggressive trade mentality during bullish momentum, and he claims to be "turbo bullish."

@Pentosh1 critically speaks about the distinction between making big trade gains and retaining them, with a nod to the role of luck. He has concerns on bonk forming lower highs and entering a phase of consolidation.

@HsakaTrades seems to favor momentum and price action over fundamentals, suggesting that previous market behavior could influence future trades. Reports on MicroStrategy's BTC acquisition are noted, potentially hinting at bullish sentiments.

@Pool2Paulie shares a frustrating experience with @SolareumProject, warning others to avoid it after a significant slippage incident. He later throws out a hypothetical situation of the market surging and catching conservative traders off-guard, implying a bullish tilt.

@trader1sz jokes about his bad luck with meme coins and highlights a bullish stance on $LTC. He speaks with a humor touch indicating both the volatility and opportunities in the market.

@Bluntz_Capital expresses bullishness, stating $ARB looks excellent and teasing those who might miss out if the market rockets upwards.

@Awawat_Trades mocks those not taking advantage of SOL's position, indicating a bullish view.

@CryptoParadyme sends mixed signals, saying a goodnight with a bearish undertone about coins going down, but also suggests being opportunistic when others are fearful.

The overall sentiment appears cautiously bullish with traders emphasizing quick action during price dips, and while some express frustration or reflect on the uncertainty inherent in the market, there's an underlying readiness to capitalize on any significant market moves.

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: 89

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

@thedefivillain highlighted the breach of the second line of defense in the ETHBTC chart, suggesting a bullish outlook for Ethereum against Bitcoin.

@CryptoDet_ is bullish on $fren from @ADA_PEEPOS, predicting it will overtake $snek, citing deep connections within the ADA ecosystem and the involvement of @onewisemelon from @DexHunterIO in building out frenswap as positive indicators.

$NEON received attention from @Cryp__toad, who emphasized its value and potential for significant growth, also mentioning how it benefits both the $SOL ecosystem and other SVM deployments.

@ChadCaff pointed out the growing momentum in the $METIS ecosystem, suggesting solid projects within it are poised for gains in the coming months, and also mentioned $HERMES, $MAIA, and $GAMEFI as tokens of interest.

@CryptoKaduna discussed the potential of the first memecoin on Bitcoin, without specifying the token, and later highlighted $STX, $ALEX, $DIKO, and $WELSH for their rewarding patience.

@anger_trading is excited about $CBK from @CoinbackMEV, emphasizing its unique position as the only MEV RPC offering referral bonuses, revenue sharing, and multi-chain expansion.

@QuantMeta shared a comprehensive analysis of ETH and its ecosystem, noting underperformance compared to alt L1s but predicting a strong future with upcoming upgrades like proto-dank sharding and a potential ETH spot ETF.

$METIS was also mentioned by @crypto_popseye, who was proud of their call on the ecosystem, noting an upcoming eco fund and a limited number of projects as reasons to be bullish.

@Govanisher speculated on $STAMP and $KEVIN, the latter being the first coin deployed on SRC-20, anticipating hype and price increases.

@Crypto_Shaggy introduced $ORDS from @OrdiswapLabs, highlighting its unique AMM mechanism, bridge, and native stablecoin, with a TGE on multiple exchanges.

@TheEuroSniper is bullish on $SDEX, predicting new all-time highs, while @Cryp__toad sees $NEON reaching double digits and @KaminoCrypto celebrates $HERA reaching two digits.

@xingalong_ mentioned $MANAT on $METIS with a low market cap as an opportunity, and @Cryp__toad praised $AGRS for its unique capabilities.

@anger_trading hinted at smart money accumulating $MONKGG from @monk_dot_gg, suggesting a bullish future.

@ChadCaff also included $ROSE with $METIS as tokens with significant potential gains in the bull market.

Lastly, @toptickcrypto inquired about the timeline between BTC ETF approval and trading inflows, highlighting the importance of such events for the market.

Mentioned Coins

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

Fren Nation ($FREN) |

Snek ($SNEK) | Meme

Neon ($NEON) | Solana Ecosystem

Solana ($SOL) | Alleged SEC Securities

Metis ($METIS) | DWF Labs Portfolio