π₯ The best token of 2023 is revealedAnalyzing new trends, promising projects, and the market situation. |
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Salute, crypto fam! The buidlbee team is back in the loop. There is another growth wave in the market and, of course, there are also a lot of exciting events. Some are intriguing, some must-know, and others possibly beneficial. In today's letter, we talk about: - "Greens," dryers, and Bitcoin.
- Michael Saylor introducing the Bitcoin Lightning payment system for retail businesses.
- How real professionals trade (not recommended to be repeated).
- Which new 2023 token is the profit leader?Β
- How to identify scam tokens.
- Receiving NFTs from Radiant.
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In the meantime, here's a quick recap of the day's highlights: - The Google Cloud Blockchain Node Engine β a fully managed node hosting service for Web3 development β will add support for the Polygon blockchain.
- Binance has listed the Open Campus (EDU) token and opened trading in pairs: EDU/BTC, EDU/USDT, EDU/TUSD, and EDU/BNB.
- CertiK β the Web3, blockchain, and smart contract security firm β gave Merlin a high-security score of 90. But after a rug pull, it lowered the audit score to 38. Fraudulent developers escaped with millions in investors' funds from the Merlin DeFi project through a backdoor in the protocol code. This sparked a debate about the role of code auditing in DeFi's security.
- Pancake Swap launched a liquid-staking integration with Binance Earn on Ethereum and BNB networks. You need to convert ETH to WBETH (0% commission) for ETH staking.
- A user with the nickname "Wicked" announced a contest on Twitter for 100 thousand SATs (0.001 BTC) to hack a seed phrase of 12 words shown in random order. One of the participants did it in half an hour, using the free BTCrecover app. So, use 24 words!
- The launch of Sandbox Staking has taken place. Users can stake LAND NFT on the Polygon network and receive daily rewards in SAND tokens.
- The U.S. Commodity Futures Trading Commission (CFTC) has imposed a record $3.4 billion fine on Cornelius Johannes Steinberg for Bitcoin fraud.
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Dryers, Bitcoin, and the REAL EvilMESSARI analysts are bored of the "green against mining" war. Everything is learned by comparison, for which, the agency collected energy consumption of different industries. For example, drying machines use more electricity than mining bitcoins, but when was the last time you heard of climate activists being dissatisfied with dryers? On the other hand, the real black hole in energy consumption is air travel and shipping, which, in the name of "saving the climate", should be banned entirely. |
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"Someone knows something" or How the "real professionals" tradeThe BTC/ETH long of famous trader Andrew Kang (about 200k subscribers) was liquidated on GMX yesterday. On his last trade, he lost $567k! He used an unbelievable 41x leverage, and although we do not have 200k subscribers yet, we do not recommend repeating this. |
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Andrew himself drew philosophical conclusions from what happened: When a market sells off for what seems like no particular reason, one can assume either: - The trend has been exhausted and a larger, longer correction is on the horizon.
- Someone knows something.
Sometimes both. |
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Is Bitcoin going retail?Next week at a conference in Orlando, Michael Saylor promises to introduce a Bitcoin Lightning payment system for corporations. In other words, MicroStrategy will unveil its own Lightning Network-based software that will allow BTC micropayments to be introduced at retail. According to Glassnode, sending money via Lightning Network (LN) is 1,000 times cheaper than using Visa or MasterCard services. The average commission charged for 1 BTC sent via LN is ~3000 or $0.80 and for sending $28,000, it is approximately 0.003%. Visa and Mastercard payment networks charge merchants a 2-3% fee per transaction. |
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JPMorgan has created its own AI modelΒ JPMorgan Chase & Co unveiled a new model based on GPT4 to conquer the world for tracking market signals. The service forms its conclusions by analyzing statements of the Fed chairmen and heads of central banks over the last 25 years.Β On the basis of these statements and subsequent changes in the market, the bot predicts what the future policy of the regulators will be. For now, this oracle is functioning in closed mode. This news shocked our editorial team, so we decided to ask a colleague of the proposed JPMorgan AI for a comment. Here's what the independent crypto chatbot told us: |
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[1] πThe best buys from new tokens.Below are the top 15 new tokens launched in Spring 2023, that are currently leading by ROI: |
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We suggest looking at the incredible leader of this list β SPACE ID. There are some hot new developments associated with it, that are already pushing the token to new heights: - $ID established DAO Treasury, to implement a mechanism for redeeming and destroying tokens.
- $ID will introduce the ".sei" domain name for the Sei Network ecosystem.
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[2] π Simple ways to spot a scam tokenDo Your Own Research (DYOR)! Everyone has met this phrase thousands of times, yet, scammers are still feeding on naivety and swindling investors out of money.Β Over the past 1.5 months, one person has created 114 meme coin scams with the same deposit address! So, here's a reminder on how and where to check for tokens before investing. - Check for social media "red flags". A verified account is a good sign. Numerous followers on social networks with low engagement is a bad sign.
- Search for the token's address on Google. If you can't find a clear homepage, whitepaper, or obvious purpose for the token, it's probably a scam.
- Check DappRadar's blacklists. If the token is there, it's a scam.
- Check how many exchanges the token is traded on. If they are few in number and decentralized exchanges (DEX), that's a huge red flag.
- In addition, under the guise of existing projects, you can be sold fake tokens with the same quote. So, be sure to always check the address of the smart contract.
- Use Block Explorers for different projects. For example, Etherscan for Ethereum-based tokens; BscScan for the Binance Chain; and PolygonScan for Polygon.Β
- Also, there are useful platforms such as Token Sniffer, BSCheck, and Honeypot. Token Sniffer is a simple tool used to find various tokens in Ethereum and Binance Chain networks. It helps detect the two most common types of token scams: rug pulls and honeypots. BSCheck is a free BSC/ETH/POLY/FTM/DC token analyzer. The Honeypot detector simulates a buy and a sell transaction to determine if the token is a honeypot or not.
- Another useful tool is the Department of Financial Protection and Innovation (DFPI) website. There is a table there where you can search by company name, fraud type, or keywords to find out about specific complaints received by DFPI. Perhaps, the project they're trying to pull you into is already there?
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[3] π How to get NFT from RadiantRadiant is a protocol built on LayerZero that allows you to borrow from one network against assets in another.Β As part of a new promo campaign from the project, you can get a box of NFTs of varying rarity. How?- Go to PancakeSwap and buy at least $5 worth of RDNT tokens.
- On Radiant's website, in the Bridge section, send 1 RDNT token from the BNB network to the Arbitrum network.
- In the Markets tab, buy any tokens worth $8 or more.
- Then, select "Zap into dLP", then "Add RDNT to dLP", and then lastly, add RDNT and BNB worth $8 or more (instructions are here).
- Go to Galxe, complete all the tasks, and claim your NFT.
In addition to getting NFTs, there are also activities in LayerZero and Layer3. However, you will have to spend up to $20. |
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Let's go to the moon together! Have a great weekend, and see you again on May 3. |
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