Best Q1 performers, signs of an altseason proximity, and money-making opportunities

You will also find a crypto security analysis, Ethereum price prediction, token drawing, and even more useful stuff.

Salutations, fam! Today, the buidlbee crypto community has prepared for you all sorts of cool news, analytics, and opportunities. Here we go!

In this letter, you will find:

  • How close is altcoin season;

  • The most successful projects of the first quarter of 2023;

  • Cryptocurrency security analysis;

  • Dangers of DOGE spike;

  • 45 million MYRIA token airdrop;

  • Ethereum prepares to test $2200-$2300;

  • Token raffle!

Now let's move on to the important events of the day:

  • OpenSea has launched a pro version of the marketplace with zero commissions instead of the gem aggregator platform. If you bought something on Gem before March 31, you can get Genesis NFT.

  • Bugatti and iconic luxury brand Asprey have announced the release of the limited Asprey Bugatti Egg NFT Collection on the Bitcoin network, with tokens that will also have physical items.

  • The P2P trading platform Paxful has been suspended indefinitely.

  • After Donald Trump's arrest, his NFT sales rose 251%.

  • The decentralized lending network Sentiment's liquidity mechanism on the Arbitrum blockchain was exploited for $1 million in different tokens.

  • Cash App founder, former Square CTO, and MobileCoin developer Bob Lee was murdered in San Francisco.

  • Blockchain company Polkadot has filed a trademark application for a blockchain-based messaging app.

You can also get access to exclusive analytics. The private letter "Deep analysis and market insights" is coming out every Saturday. Our Chief Analyst shares valuable and practical information. All you need are three referrals!

🍰 Is the altseason coming soon?

Because of Bitcoin's long-side movement, many bloggers are actively discussing the coming of the altseason. 

So blogger @MarketWizard94 gives four signs of the alt-season coming soon:

  1. ETHBTC reclaims 0.068 and the altseason is on.

  2. BTC Dominance supports the altseason thesis.

  3. ETHUSD finally broke above range highs. Must hold $1840 for a move to $2000.

  4. BTC must continue sideways in this range to let the alts run. Break above or below, and alts get slaughtered.

  5. TL;DR we're very close to an altseason (until the next FUD comes up and nukes everything).

In addition, blogger @bleezysmart brings up a classic argument related to Bitcoin's decline in dominance. Here are two graphs from him with comments:

This is a #Chart of BTC.D which means BTC currently takes 47.17% of the total crypto currency's market cap which is a determinant on how alt coins move. It's about to break a resistance which means Btc [sic] will see some major run soon but let's see if it's going to break it or not”

“One of the major ways of correctly analyzing is "going back in history". This is the chart of BTCUSDT. The 2017 bull run and the 2021 bull run is [sic] taken into consideration. The peak of the bull before 2017 was the bottom of the bull run after 2017's bull run.”

This analyst ends with this conclusion:Nevertheless, we urge caution. The following chart clearly shows that BTC and ETH leaders are literally pulling all the liquidity out of the altcoin market, which is very small by comparison:

History has repeated itself, exactly 371 days was the difference between the peak of 2017 similarly the difference between the peak of 2021's bull run and this 2023 bottom is 371 days also the peak of 2017's bull run. I believe we should be touching 35k-40k before the next bull run.

Nevertheless, we urge caution. The following chart clearly shows that BTC and ETH leaders are literally pulling all the liquidity out of the altcoin market, which is very small by comparison:

✨ Q1 Crypto Results

In addition to analyzing the likely future, let's summarize the Q1 2023 results. Here are the top tokens by yield, as selected by two different studies.

Q1's best crypto tokens by topic group:

#BTC was the leader with 60% growth since the beginning of the year. In L1, #SOL made up for most of its losses after the FTX crash, earning 100%. In L2, #OP hit record highs in February:

🔐 Excerpts from ImmuneFi security study

  • The number of attacks in the crypto industry in 2023 increased by 192% compared to last year;

  • Despite this significant increase, the total amount of money lost decreased by 64.4%;

  • BNB Chain has been a prime target for exploits and fraud, with a record number of incidents recorded on this blockchain;

  • In the first quarter of 2023, a total of about $440 million was stolen; 40.5% of that amount was recovered.

👉 Opportunities 

[1] 🔔 The dangers of meme coin dumping

Amid the latest performance from Elon Musk with the change of Twitter logo, many ordinary users rushed to long Dogecoin on this wave of excitement, meanwhile whales are doing just the opposite:

  • One of the biggest Dogecoin holders has withdrawn ~1.5 billion DOGE ($145 million) from his wallet to exchanges in the last few days. The value of DOGE has dropped 2% in the last 24 hours.

  • The $SHIB coin also touched on the story of Musk's action; this coin experienced an explosive rally. But the day before yesterday, the local whale moved almost 250 billion #SHIB to exchanges. And so today we see the end of the rise and the beginning of this coin's 1% decline.

As you can see in both cases, the big players are trying to capitalize on the madness of the crowd, so it is important to remain cautious during such rallies.

[2] 🔔 Ethereum prepares to test $2200-$2300

At the moment, Ethereum is trading at $1910, and its growth for the day was 4.23%. According to RLinda’s technical analysis, a breakout of the 1850 level could activate a large volume that would push the price up, thus forming a bullish momentum. Then there could be growth up to the level of $2300-$2400.

  • Support: $1784, $1725, and $1672.

  • Resistance: $1850 and $2020.

After the next retest to the level of $1850, the price will be able to break it soon.

The short-term target is the resistance of $2020; the medium-term target is the liquidity zone of $2200 and $2300.

[3] 🔔 MYRIA token airdrop

Myria is a Layer 2 blockchain scaling solution for Ethereum utilizing ZK rollup technology, offering its users instantaneous transactions, high throughput, zero gas fees, and free NFT minting. The project is preparing to launch the MYRIA token on April 6 at the OKX exchange. This event will include an airdrop of 45 million MYRIA tokens for 5,000 winners (new OKX users only). The distribution of prizes among the winners will begin on the official launch date of the tokens after all entries are validated.

How to participate:

  • Register on OKX - here’s how;

  • Find your OKX UID on the website;

  • Copy the UID circled above and paste it on the airdrop form;

  • Complete identity verification (KYC) on OKX (guides for levels #1 and #2).

How to obtain your MYRIA wallet address:

  • Select “asset” on the OKX website or mobile app;

  • Search “MYRIA” on the search bar;

  • Select “ERC-20” as the deposit network;

  • An address will then automatically be generated. Copy this address, and paste it into the airdrop form.

Answer a quick question and get a chance to win ETH tokens 👇

Will ETH hit $2K❓

We wish you the best deals, lots of money, and a garage full of Lambos! See you tomorrow! 😉 

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