This is what happened in the last 24 hours in the industry:

• The UK has approved a law to regulate cryptocurrencies and stablecoins
• PancakeSwap DEX added support for the Polygon zkEVM network
• Slovakia plans to reduce taxes related to crypto sales
• Donald Trump's wife, Melania Trump, issued an NFT collection
• AlloyX will launch a vault for investing in tokenized loans
• Ubisoft has revealed its first blockchain game

Current market contradictory situation

Bitcoin reaches $31k for the second time in 24 hours. Such growth against the backdrop of a stronger dollar around the world is quite unusual. 

Most experts attribute it to new PCE inflation data, which came out today in the U.S. The preferred inflation figure falls to 3.8%, below the expected 4.6%. This is the biggest monthly drop this year. The Fed may finally be winning the fight against inflation. This reduces the likelihood of an interest rate hike, to which the market is reacting with euphoria.

Amid this good news, the SEC suddenly announced in the afternoon that bids for spot Bitcoin ETFs were inadequate. The market reacted with a sharp drop to $29k.

Banking crisis in the U.S.

The Fed's bailout of banks hit a new weekly high of $103B. The Emergency Loan Facility Program (BTFP) was introduced in March amid the start of the U.S. banking crisis. In fact, this Fund is aimed at an emergency bailout of troubled banks.

According to the Federal Reserve Bank, BTFP hit a record $103.08B in loans in a week. This means that the Fed is still intensively rescuing financial institutions, despite its attempts to assure the financial world that the banking crisis is supposedly over.

Massive delisting of altcoins continues

Neobank Revolut is delisting Cardano, Polygon, and Solana due to threats from the SEC.

Recall that just last week, these leading altcoins also had Bakkt, Robinhood, and eToro removed from their platforms. So far, the dynamics for altcoins are alarming; if this cleanup continues, it will inevitably lead to a decline in their capitalization.

Which dApps are the most active?

Let's try to look at the current world of DeFi from an unusual angle — which major projects generated the most commissions in the last quarter? It's a great metric to see which projects continue to have high user activity. And Lido Finance, the largest staking provider, is the leader here:

💲 Ideas

[1] 🔔 Dash as a solution provider

DASH announced the release of their decentralized database, GroveDB, which they plan to open source.

It is not only an interesting product and solution, but also an unusual step in the promotion of DASH. It is an attempt to create an interesting NoSQL tool that can be useful for many crypto projects. It is a strong application to the market of database solution providers, which shows the great potential of DASH. You can read more about the project in this thread; the GroveDB site is here.

Yesterday's announcement of the new project led to a 4% rise in the coin:

[2] 🔔 Is a massive PEPE pump on its way?

Crypto analyst FieryTrading discovered similarities between PEPE and SHIB. He noticed that both assets showed sharp growth in a short period of time, especially after they were listed on Binance.

So, in the expert's opinion, PEPE can wait for the destiny of SHIB, which at first also passed the accumulative stage, alternating with bearish trade, and then started the bullish movements.

The reasons to think so give a possible rise in BTC in the near future, which can also influence the strengthening of PEPE and maybe the growth to the new historical maximum (for now it's $0.000004354).

In 2021, the Shiba Inu soared 1,200% in just a few weeks after a long accumulation. So you can imagine what would happen if PEPE went the same way.

*Any technical analysis in the long run cannot accurately predict the movement because now is a very tough market and the news can swing currencies in all directions

[3] 🔔 NFT from mySwap

mySwap, DEX in the Starknet ecosystem, has started four weeks of quests. To get the NFT, one must perform the tasks. The main condition is interaction with the project's dApp.

To get tokens for the first week, you need to:

• Go to Swap;
• Swap ETH for wstETH;
• Go to the Pool tab.
• Make one or more swaps in the ETH/wstETH pool. The total volume must be above 0.03 ETH.

It's important to note that mySwap doesn't have its own token, so there's a chance they may get dropped in the future for doing quests today.

The list of quests is published here, and the deadline is July 5. Good luck, guys.

Farewell, intrepid adventurers of the crypto world. As you forge ahead on your journey through the realm of digital assets, may you stumble upon a treasure trove of prosperity and be spoiled for choice. Here's to a marvelous weekend brimming with blissful moments and well-deserved relaxation. See you next week.

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Stay ahead of the curve in the fast-paced world of crypto. Get up to speed with the latest developments:

• KuCoin will introduce mandatory KYC for all users
• Revolut announced a reduction in cryptocurrency trading fees
• Coinbase added the Helium token to the listing roadmap
• Abyss World and Mobius are switching from Sui to Polygon and Layer Zero
• The final decision on the launch of the digital euro will be taken in the fall
• DYDX announces the launch date of its blockchain testnet

Overall market picture

This chart shows that little physical BTC volume is on the move right now; in other words, most economic agents prefer a wait-and-see strategy, or HODL. But the current actions of players predict that the liquidity picture may soon change in the second half of the year.

Analysts' main talking points for today are:

• Spot trading volume remains low, and liquidity in the BTC markets is low. Only 2.7% of supply has moved in the last week. 7% of market supply has moved in the last month.
• Uncertainty is high due to tighter regulation.
• With new institutions coming in, registering ETFs, and launching new exchanges for institutions, the liquidity picture could change dramatically due to new 💲 being raised and fundamentally new instruments entering the crypto market.

How the airdrop economy works

A recent study by X-explore talks about the earnings of airdrop hunters who actively participate in the world of airdrops.

• Studying the data, the researchers at X-explore found as many as 34,547 addresses of standard airdrop hunters. Their income averages $9,384 per address.
• Moreover, the average income from airdrop per address is $6,497, indicating that each airdrop hunter's address brings him a decent profit.
• Most interesting, however, are the results of a study on premium airdrop hunters. X-explore found 932 addresses of such hunters who have access to more exclusive and high-paying airdrops.
• The average income of premium hunters per address is impressive at about $18,935. That's twice as much as the income of standard hunters.

As you can see by the numbers, this is real 💲 and real business. So don't skip the drops we often give in the Ideas section. A small amount of time can reward you very well.

The attack on Binance continues

Binance's application for a German license was rejected by the German Federal Financial Supervisory Authority (BAFIN).

Over the past month, Binance has pulled out of the Netherlands, Cyprus, the UK, France, Belgium, and Austria. In Australia, the exchange had its bank accounts blocked without warning, leaving nearly a million of its customers in that country without the ability to withdraw capital.

Binance's market share continues to decline rapidly.

💲 Ideas

[1] 🔔 Copytrade for Binance

Despite problems with the exchange, Binance continues to actively fund projects selected by its expert group. This time, the choice fell on Maverick Protocol. Now Binance not only partially finances the project, but also lists the project's token, #MAV, on the exchange.

If you are interested in the expertise of the exchange, you can take a closer look. However, it is worth noting right away that such projects can only be considered from a long-term perspective.

[2] 🔔 Solana's miraculous rise

The asset has clearly not had much luck lately. The connection with FTX, SEC recognition as a security, bugs in the ecosystem, and other difficulties affected the growth of the token. However, the creators are still holding on and fighting for the project's existence, and probably not for nothing.

As it became known, the FTX exchange may be relaunched in the next six months, and the Solana blockchain may be rewritten to meet the requirements of the regulator. The question that arises is whether or not this will affect Solana's takeoff.

According to P_S_trade's technical analysis, such an outcome is feasible, especially if "there is a positive news backdrop." According to the expert, if "a miracle happens," the mid-term target is $50 per coin. Well, let's wait.

*Any technical analysis in the long run cannot accurately predict the movement because now is a very tough market and the news can swing currencies in all directions

[3] 🔔 FTX's comeback

The notorious exchange may soon be rebooted. Relevant information began to arrive immediately with the news that the platform's management returned $7B in liquid funds. This is an amount that could cover most of the exchange's customer liabilities.

Amid such news, the value of FTT, a native token, is showing growth. The coin is up 15% in the last 24 hours. Let's find out what to do if you had 💰 lying around on FTX.

• The official website for FTX liquidation;
• Search Docket Cases 1730—1750 with information about all users;
• Download a PDF of all customers (CTRL + F);
• Search your number, which came in the mail from ftx@noticing.ra.kroll.com.

Funds will be harder to recover if your account falls into one of the following categories:

• Contingent — accounts with blocked tokens and suspicious activity;
• Unliquidated — an unliquidated debt;
• Disputed — disputed debt.

Hope you didn't fall into one of them. Good luck.

As we say our temporary goodbyes, keep your curiosity piqued and stay engaged with the fascinating world of digital assets. Don't miss out on future editions, where we'll continue to explore and embrace this dynamic landscape together. Bye-bye.

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You have received this mail because you have subscribed to a newsletter at buidlbee. Please make sure you have seen and understood our disclaimer before reading. You may always unsubscribe from our mailing list by clicking on Unsubscribe. If you received this in error, please contact buidlbee, delete this email and any attachments immediately.