Greetings, crypto warriors! 💥 Welcome to this week's captivating edition of the buidlbee newsletter! Unfortunately, Bitcoin trades below $60K. The top-10 cryptos are traded in the red zone. And the market as a whole is quiet. Traders' opinions are 50/50: one expects a further fall (at least during the summer), while others are waiting for a miracle to happen and the market to turn green. Nevertheless, who knows where and how, will always find their way. So let's move on to what we've gathered in today's letter: - 🛡️Discover promising early-stage DePin projects;
- 💲 Justin Sun's net worth: new insights from Arkham's latest research;
- 💸 NFT theft: a user loses $230K worth of NFTs in a phishing scam;
- 📉 Bitcoin-ETF outflows;
- 😺 A new memecoin in Telegram mini-games;
- 🔑 Key crypto market highlights (July 3-July 10);
- 💡 Ideas and insights: airdrops, XRP milestones, and new token listings.
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👉 Check these early-stage DePin projects |
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💲Analysts have named Justin Sun's net worthArkham stated in their new research that Justin Sahn now has about $1B in cryptocurrencies in his public wallets. He had about $1.4B at the beginning of February 2024. Justin Sun is the founder of TRON, a blockchain DAO ecosystem ATM system symbol, and USDD, an algorithmic stablecoin issued by TRON DAO Reserve. |
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👾 A user lost about $230K worth of NFTsA user lost 49 non-fungible tokens (NFTs) due to a phishing attack. This was reported by a Solidity developer and auditor under the pseudonym 0xQuit on X. According to him, the victim lost six NFTs from the Bored Ape Yacht Club (BAYC) collection, 40 from Beanz, and three NFTs from the Elementals collection. The expert explained that the user lost his NFTs through a "signature" on a phishing site. He added that this allowed the attacker to create so-called "private sales" on the Blur marketplace. This allowed the tokens to be offered for sale for 1 WEI (the smallest unit in Ethereum). However, the scammer set a feature in the contract that cancels any transaction if a token is attempted to be purchased by someone other than him, making the sale effectively private, and the buyer's royalty is 100 percent. |
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😢 Net outflows in the spot bitcoin-ETF segment totaled $13.6MAccording to SoSo Value, the spot bitcoin-ETF segment recorded a net outflow of $13.6M on July 2. Five crypto funds ended the trading day with zero inflows or withdrawals. Leading the outflows yesterday was the convertible ETF from Grayscale – GBTC. The crypto fund lost over $32M, and the AUM fell below the $17B mark. Since launching in January 2024, Grayscale's spot bitcoin-ETF has cumulatively shed $18.5B. An exchange-traded fund from Bitwise Asset Management firm Bitwise is the second-largest outflow, with $6.8M, and its AUM is holding steady at $2.36B. At the same time, four products from this segment ended the previous trading day in the "green zone". The spot bitcoin-ETF from BlackRock (IBIT) became the leader in terms of inflow – $14M. |
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😼 Solana-based memecoin MEW cat will appear in Telegram mini-gameAccording to CoinDesk,the MEW character will make its first appearance on TON, the network that powers Pixelverse's Telegram mini-games, as Solana-based memecoin. Web3 gaming ecosystem Pixelverse will add the MEW meme coin character from Solana to its real-time game rooster. The move is likely to attract a new audience in the Telegram ecosystem where Pixelverse games run. MEW will be the first Solana-based meme to be unveiled at TON. |
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🔑 Key crypto market highlights (July 3-10) |
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💲 Ideas [1] 🔔 Second Airdrop Season by AethirAethir is a new decentralized cloud infrastructure focused on providing computing power to companies and individuals working in artificial intelligence, machine learning, and cloud gamification. Previously, the team held an airdrop and for activity in the first season, users received $70 just for completing quests. To get the Chatter role you need to be active in the Aethir server chats. Social will require 10 posts about the project in X (Twitter) and you need to publish them on different days. After getting these two roles, you need to contact the Aethir manager to issue a Newbie. How to participate: - In Discord of the project get the roles of Social, Chatter, and Newbie (it can take up to 10 days);
- Go to the Galxe platform;
- Complete tasks for social activity and verify the received roles;
- Claim 100 points.
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[2] 🔔 XRP approaching key milestonesAccording to RLinda's technical analysis, XRP might see positive movement soon. XRP is getting closer to a potential major change, both technically and fundamentally. Positive signals could lead to a price increase, with the first target around $0.73. The ongoing Ripple vs. SEC case is crucial for cryptocurrency regulation. A favorable outcome for Ripple could be very positive for the entire crypto community. The court ruled that Ripple violated federal securities laws with institutional sales of XRP but dismissed other SEC charges. Ripple opposes the SEC's proposed $2B fine, suggesting a maximum penalty of $10M. Ripple's CEO expects a final verdict by the end of summer. XRP continues to test the wedge resistance, with lower volatility and ongoing consolidation. Buyers are holding the price above $0.4637, which could lead to another attempt to break the resistance. - Consolidation above $0.4962 could trigger a rally to $0.6265 - $0.73.
- Support levels: $0.4637.
- Resistance levels: $0.4962, $0.5720.
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*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 |
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[3] 🔔 Well3 token and listing announcementThe team announced the TGE from Well3 for July 3rd, and the listing will follow. So far, only Bybit and Bitget have announced the listing. The claim site will be ready at 12:00 PM UTC (8:00 PM GMT+8). There is no information about the drop for quests yet, if it appears we will make an update. Hope that the drop will remain (2 days in reserve for announcements), but you can not have high hopes for good bait, but a penny should be dropped. In general, we watch and wait for updates. |
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Thanks for delving into the crypto world with us this week! 🌐 Stay informed, stay inspired, and may your crypto projects flourish. Until next time, happy trading, and all the best! 🌟✌️ |
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