Bitcoin vs. gold fight, a new wallet, and the first Shapella scores

What's up, fam? The buidlbee crypto community is happy to knock on your email inbox again. In this newsletter, we will share with you our analysis of the most significant market events and opportunities to watch for. So here's what's in store for you:

• Shapella hard fork: first results of an important Ethereum upgrade.

• Bitcoin vs. gold.

• Cardano releases the Lace Wallet, boosting the ADA ecosystem.

• Working on a potential drop from HoloGraph.

• Interesting Cosmos (ATOM) pattern.

• Our fresh quiz!

Fast news - only the most important:

• Warren Buffett called Bitcoin a "gambling token" in an interview with CNBC.

• U.S. inflation at the wholesale level continued its decline in March, with annual price growth down from 4.6% to 2.7%. On a monthly basis, producer prices fell 0.5%.

• Recent documents filed with the court by the liquidators of the collapsed crypto exchange FTX indicate that $6.2 billion was received. With the current positive trend in crypto prices, the value has risen to $7.3 billion.

• PeckShield: The Aave V1 and Yearn Finance protocols have affected an exploit, resulting in losses of about $11 million in stablecoins.

• The Ethereum Shapella (Shanghai + Capella) upgrade went live. This pushed the ETH price to $2k for the first time since August 2022.

• Biswap closes NFT Staking. From April 21, rewards will cease to accrue. A timer will be added to the website to show you the exact time the reward will end. For several months, users can still withdraw their NFT staking with accumulated rewards and exchange them for NFT collectibles.

• Binance opens withdrawals of staked ETH on April 19.

• Twitter will give users access to stock and cryptocurrency trading via eToro.

• The state of Montana formally passed a Bitcoin miners' rights bill in the House and Senate.

🏆 We have another winner of our quiz today! It's a subscriber with the nickname KrisIssa. Congrats! 😸

🍴 Another Ethereum hardfork is completed

Today, Ethereum developers activated the Shapella update on the main network. This is an important event for the largest altcoin in the world; this is the first time the unstaking of ETH will happen. The hard fork took place at epoch 194,048; the developers noted that there were a couple of missing blocks in the network, but overall the update was successful and the network is working as normal.

What's the withdrawal rate?

What the public has been waiting for the most is the effect on the price of the beginning of mass ETH withdrawals from staking. Let's look at the long-awaited numbers. At the moment, the withdrawal is not extreme. 

Since the upgrade 15 hours ago, 34,688 ETH have been deposited, with a net flow of -93,167 ETH. And the total balance of active validators ETH staking is 17,455,638 ETH.

You can see the most actual statistics on this dashboard, which is updated in real time.

What's up with the price of Ethereum?

Ethereum broke through the $2000 price level at the moment! Here are the additional details on this topic from Kaiko's research:

• At the moment, the price of Ethereum has grown a bit: in relation to BTC, it increased by 4%; in absolute terms, by more than 6%. In other words, the pessimistic forecasts and the price dump after the unstaking have not been confirmed.

• But despite this, the volume of trading in ETH on futures is falling relative to the BTC market; on spot markets, the picture is similar.

• As of last week, the spot volume of ETH relative to BTC was only 30%. The last time the Ethereum spot market share was this low was in March 2021. Most likely, after the unstaking, many investors make a secondary conversion into BTC.

🥇 Bitcoin vs. gold

After breaking the $30k bar, Bitcoin is back in the top 10 publicly traded assets by market capitalization.

The absolute leader is gold, with a capitalization of ~$13.5 trillion, followed by Apple and Microsoft.

Analysts at Bernstein Research argue that investors in gold should take a closer look at Bitcoin, which is likely to offer better returns in the foreseeable future. In a new report, Bernstein Research wrote that the market for gold is exciting, but interest in Bitcoin is relatively low. And this despite the fact that the first cryptocurrency was the most profitable asset of 2023.

They believe that it is the so-called "hate syndrome for the fastest horse" — investors do not believe in long-term profits from the newcomer, explaining the current victories by accident. Despite emotions, according to statistics, Bitcoin has repeatedly shown more significant profits than gold, experts conclude.

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! ☝

👉 Opportunities

[1] 🔔 An important update for #ADA

Input Output Global (IOG) has released Lace, the first proprietary wallet for the Cardano ecosystem. This is a big event for all fans of Cardano, a major altcoin now ranked seventh in the top cryptocurrencies according to CoinMarketCap.

• Lace is a browser-based wallet, similar to the popular MetaMask product. It allows users to access the Cardano network directly and use Cardano-based decentralized applications (dApps).

• Users can also stake ADA tokens directly from Lace to contribute to the security of the Cardano network and receive rewards for their participation.

The market has very positively met the release of the long-awaited wallet. The coin has already grown by 3%, but even if you are not a speculator, as you can see from the data below (weekly and monthly), $ADA belongs to the category of steadily growing assets suitable for long-term investments.

[2] 🔔 Activities for a potential drop from HoloGraph

HoloGraph is a project that provides multichain tools, making creating multichain digital assets easier, cheaper, and faster. The project has raised $8.2 million in funding from Soma Capital, Avalanche VC, Kosmos Ventures, and others.

We will use Bridge, Core, and Mint tools for activities. This will help increase your chances of getting a drop, if any. The project has running quests that you can do here and get rewards.

The bridge should be used according to this principle: Polygon to Avalanche, Avalanche to Polygon, Ethereum to Avalanche. Create one NFT per network: 1 NFT = 1 network.

What to do:

• Go to the website and connect your wallet;

• Look for the right NFT for yourself;

• Create 3 NFTs (one NFT in different networks);

• After creation, go to the bridge;

• Transfer NFTs as written above (Polygon to Avalanche, Avalanche to Polygon, Ethereum to Avalanche);

• Completing tasks in Crew3;

• Follow HoloGraph announcements on Twitter and Discord.

[3] 🔔 Interesting Cosmos (ATOM) pattern

Cosmos (ATOM) is a cryptocurrency that plays a key role in a blockchain ecosystem designed to scale and interact with each other.

According to Trading Puzzles's technical analysis, the ATOM price is preparing to test the lower part of the pattern, which is good, considering the previous bullish waves.

If the price tests the $10.80 area again, it could be a good signal to consider ATOM as part of a portfolio.

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

Will Ethereum cross the $2,100 mark before April 15❓ 

We remind you that tomorrow there will be a completely free online seminar on marketing and business from the buidlbee agency: “How to promote a Web3 project on the global market?”

• When: April 14 at 1 p.m. UTC

• Pre-registration: here

Have a great trade, guys! To the moon! Catch you tomorrow.

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