Daily DeFi Alpha | Volatility, Market Movements, and Yield Farming Opportunities
🥷 Yoooooo crypto aficionados! It is Tuesday. 🗓
It is yet another fantastic day in the crazy world of cryptocurrencies. Let’s get after it relentlessly! If you’ve managed to find any hidden gems that will make you a zillionaire, let us know on Reddit!
This is a collection of alpha from all over the web, particularly CT (Crypto Twitter), and we’re always on the lookout for those elusive alpha projects. So, if you come across any top-secret info or your own research that could make us all rich beyond our wildest dreams, don’t keep it to yourself, and let’s get a discussion goin’ on Discord!
But seriously, all the stuff we post here is just our interpretation of the general markets and different ecosystems based on what we’ve heard from fellow degens. So, don’t take anything we say as gospel truth. Always do your own due diligence (#DYOR) and never invest more than you can afford to lose.
🍻Cheers,
The Gate Blog Team
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Crypto Volatility Index
(24hr Data Per CVI Finance)
Crypto volatility remains low at 52, rising slightly from 50 yesterday but remains the lowest in 7 days with a drop from 57
- 0-85 ≈ Low volatility; 85-105 ≈ Medium volatility; 105-200 ≈ High volatility
Change in Total Crypto Market Cap
(24hr Data Per Tradingview)
- Total m.cap has risen 6.7% to 807B since the beginning of 2023 but is still down by 73% from Nov. 2021 height of 3T m.cap
Fear & Greed Indices
(24hr Data Per @BitcoinFear & @EthereumFear)
- Bitcoin (BTC) investors remains extremely fearful
- Ethereum (ETH) investors’ sentiment has risen from 43 to 45 and has reached neutral
Long/Short Ratios on Centralized Exchanges
(24hr Data Per Coinglass)
- BTC L/S Ratio seems split at 1.03 and remains relatively unchanged in 24hr
- ETH L/S Ratio favors the bulls at 2.00 and has doubled in 24hr
Significant Movers in Tiers
(24hr Data Per Crypto Bubbles)
1st Tier
(Top 100 Coins Performance)
2nd Tier
(Top 200 Coins Performance by 24hr Volume)
3rd Tier
(Top 300 Coins Performance by 24hr Volume)
Selected Technical Analysis
Optimism (OP)
- Trendline breakout confirmed on Jan. 7
- Reached 1st target of 30% (in the money) as of Jan. 9 and moved SL to breakeven
- Target I: $1.35; Target II: $1.98; SL: $0.95
Fantom (FTM)
- 1st trendline breakout confirmed on Jan. 3; 2nd breakout confirmed on Jan. 7
- Reached 12% in the money as of Jan. 9
- Target I: $0.288; Target II: $0.405; SL: $0.208
Audius (AUDIO)
- Trendline breakout confirmed on Jan. 7
- Reached 8% in the money as of Jan. 9
- Target I: $0.168; Target II: $0.240; SL: $0.133
Significant TVL Movers
(24hr Data Per DeFiLlama)
Top 19 Chains Performance By Total Locked Volume (TVL)
- Most notable changes over the past 7 days can be seen in Solana (SOL) at +22%, and Waves (WAVES) at +38%
Top 13 Protocol Performance By Total Locked Volume (TVL)
- Over the past month, the most notable declines in native token value can be seen in PancakeSwap (CAKE) at -21%, and JustLend (JST) at -11%
- Over the past week, most protocols have seen a general upward momentum in native token value, with Coinbase Wrapped Staked ETH (CBETH) standing out from the crowd at +11%
Top 10 Stablecoins By M.Cap
- Tether’s USDT continues to dominate the crypto landscape with 66.2B circulating supplies, and Circle’s USDC is gradually chasing the gap with 43.5B circulating supplies
Yield Farming Essentials
(24hr Data Per DeFiLlama Unless Source-Specified)
Top 10 Single Exposure Stablecoin Pools By Total Locked Value (TVL)
(Beware of protocol security and stablecoin depeg when you’re chasing yields!)
- Notably, the Neutrino USD (USDN) pool staked via Vires Finance built on Waves is offering up to 12% APY; on the other hand, the USDT pool staked via AAVE v2 built on Ethereum is offering a decent 2.2% APY
Top 10 Single Exposure Stablecoin Pools By 24hr APY Changes
(Beware of protocol security and stablecoin depeg when you’re chasing yields!)
- Tetu Earn on Polygon is offering close to 40% APY, and Vires Finance on Waves comes at second with close to 29% APY
Top 10 Lending Protocol by TVL and Relevant Bad Debt Data
(24hr Data Per Risk DAO)
Essential Gate.io Earn Products
Top 8 Gate.io Lend & Earn Coins By Borrowed Ratio
Top 8 Gate.io HODL & Earn Coins By APR
Selected CT (Crypto Twitter) Tweets
(Fascinating Twitter Threads, News, and Unique Insights from the Last 24hr)
30% ($12.8B) of USDC Reserves Invested In US Treasuries
- @jp_koning/1612087428369498112): Circle is yielding some of its control over USDC’s reserves to an external manager subject to SEC regulation
CANTO TVL Surged Past $100M from $74M In a Single Dat
- @Dynamo_Patrick: I can’t find any immediate catalyst.
BitDAO is Up 47% in 2 Weeks
- @blockworksres/1612056623010418688): On 12/21, BitDAO holders were voting on a $100M BIT buyback program, that would bring $2M of daily buy pressure to the token.
On Ethereum Shanghai Upgrade
- @lookonchain: Investors with less than 5000 ETH deposited to the beacon chain at an average price of $2,260
Interesting Thread About the Current Landscape and Future Outlook of Stablecoins
- @Chinchillah_/1612048569719996416): History showed us that decentralized stables have often failed or had to change their mechanics. That’s why MakerDAO switched from 100% ETH backing to approx. 50% USDC after DAI’s insolvency in the crash of march 2020.
Tutorial-like Thread On How to Spot NFT Wash Trading Between Wallets
- @bubblemaps/1612088058291027968): The NFT collection @squiggles was the subject of a huge controversy. The internet detective @coffeebreak_YT identified a series of wallets buying and selling NFTs - a typical sign of wash trading.
Airdrop Updates
(Only links have been vetted but not the protocol itself. Please DYOR! Protect your credentials and beware of phishing at all costs.)
ConsenSys zkEVM Testnet In Final Stages
- Fill the Betatest form on Infura, then create an account and add testnet.
Airdrop Guide on OSMO Perpetuals
@Flowslikeosmo/1611543181392482304): Demex, an order book DEX for Cosmos and Ethereum, has confirmed for a limited time they will be offering rebates and rewards to traders.
Decentralized Bridge Protocol Electron labs Limited Beta Release
@labs_electron/1611977566012968972): Fill out this form to join our limited testnet bridge.
Crypto Mining News
(Sources per @WuBlockchain)
Coindesk Opinion
- Some miners have held onto the Bitcoin they mined, opting instead to finance operations with debt and other capital, which works really well – until it doesn’t.-mining-companies-to-survive-in-2023/)
PR Newswire
- While operations in North Bay remain suspended…Hut 8 is continuing to explore alternatives to mitigate the impact of the dispute with the third-party energy supplier…
The Block
- Riot Block CEO Jason Les: This rebranding better reflects our position as strategic allocators of capital to increasingly broaden the scope of our (BTC) operations.-miner-riot-platforms-drops-blockchain-in-rebrand)
Cointelegraph
- With its 14% share in Bitcoin hash rate, Texas is among the top states for Bitcoin mining in the United States, along with New York (19.9%), Kentucky (18.7%) and Georgia (17.3%).
Bullish Crypto News
(Sources per @blocmatesdotcom)
The Ethereum development team is planning to launch a public test net for the Shanghai Upgrade in February, with the possibility of a full launch in March.
Meanwhile, Solana’s blockchain experienced a bug that affected its public RPCs, but the system was still functional.
Repayments for Mt Gox have been delayed by two months and will now start on March 10th.
Additionally, Coffeezilla has accused YouTuber and social media personality Logan Paul’s CryptoZoo project of being a scam, providing evidence to support the claim.
Bearish Crypto News
(Sources per @blocmatesdotcom)
FTX reportedly spent $40 million on expenses including food, flights, and leisure activities before announcing liquidity issues and bankruptcy.
- DCG is being investigated by the SEC for internal transfers at its lending subsidiary, Genesis, which is also reducing its workforce by 30%.
- SuperRare has laid off 30% of its employees in an effort to “right size” the company amid the ongoing “crypto winter.”
Brett Harrison, the former president of FTX US, has indicated that he will share information about these events in the future, potentially causing a stir in the market.
Crypto January Alpha
(Sources per @CryptoShiro_)
@litocoen: LSD (Liquid Staking Derivatives), Instadapp Lending Market, Courtyard.io, HOP V2 Testnett, Lyra Option DEX among others
- @TheDeFinvestor: LSD (Liquid Staking Derivatives), Lyra Option DEX, STFX SocialFi Marketplace, Dopex Options DEX, Optimism Bedrock Upgrade among others
🫶 Hey you, thank you for tuning in to today’s edition of DeFi Alpha Collector.
We hope you found the information collected in this DeFi Alpha Newsletter to be insightful and informative.
As always, we strive to bring you the latest and greatest in the exciting world of decentralized finance.
But don’t just take our word for it - come back tomorrow and see for yourself what the future of finance has in store. Trust us, you won’t want to miss it!
🐝 Until then, cheers to another day of staying ahead of the curve in the DeFi game.
