😲 ChatGPT has turned to the dark side

Also, the latest news about SUI, the Guild, and Algorand's technical analysis.

What's up? We think it's a great day to hunt for new ideas and useful information. It's the buidlbee crypto community team on the line, and we've done a decent job on this newsletter. Here's what you'll find useful in it, dear cryptonaut:

  • GPT in the service of crypto scammers;

  • Latest news from the world of SUI;

  • When is Algorand ($ALGO) going to rise?

  • The Guild Pin Prizes.

Here are the major news for today:

  • The Binance exchange has suspended some market order functions for all spot and margin pairs due to technical issues.

  • FORGE, the cryptocurrency arm of Société Générale, one of France's largest commercial banks, received an AMF license on July 18. It can now provide custody services for digital assets, including buying/selling digital assets with legal tender, digital assets, and other digital assets.

  • About 91% of the ARKM airdrop has been claimed (27,421,473 of 30,000,000 ARKM). About 36.6% were new addresses; about 25.75% were Arbitrum addresses, and 21.04% were Ampleforth Forth addresses. 93.5% of the addresses sold after being claimed, and only 0.1% of the addresses increased their inventory.

  • The 24th quarterly BNB burn on the Binance exchange has been completed. 1,991,854.33 BNB were burned, representing approximately $480M.

🤖 ChatGPT in the service of scammers

An analog of ChatGPT developed by hackers has started to perform phishing attacks on crypto users. WormGPT is based on a new language model, GPT-J, which was trained using malware data, so it is designed to perform various tasks related to cyberattacks and social engineering.

WormGPT first collects all personal information from public sources by parsing the internet. It then writes personalized messages based on this information and sends them to crypto enthusiasts' emails. By entering into communication, the bot at least tries to get secret information or, at most, tries to trick people into transferring funds or installing trojans on their computers.

There are similar and, so far, quite legal implementations of ChatGPT. For example, the startup Air has released a neural network that can make sales through calls by calling the customer base over the phone. The neural network can talk and persuade for hours until the customer agrees with the reasoning for buying the product. Air's voice is at a level not distinguishable from that of humans. And unlike sales managers, Air works cheap for 24/7/365, without weekends or sick days.

📔 How is DeFi doing today?

After BTC reached the $30k level and started a positive July, the DeFi sector immediately revived. So in the last 30 days, DeFi TVL has increased by 7% (to ~$49.9B).

💲 Ideas

[1] 🔔 SUI is gaining momentum

  • The number of daily transactions in the Sui Network has reached an all-time high, and the number of active SUI addresses has exceeded 1 million (indicating rapid growth of the network). Experts also emphasize that most of the network's growth came from the network game Sui 8192, which is rapidly gaining popularity and an audience.

  • On exchanges in South Korea, where the population is traditionally heavily involved in crypto trading, XRP, SUI, and GMT were in the top 3. Upbit's popularity ranking is often referred to as the world's hype top, due to the Koreans' commitment to the loudest and most dynamic projects.

  • According to SUI's updated development schedule, there are no major unlocks planned until mid-2024.

All three news stories show the positive development momentum of SUI, which has certainly become one of the loudest hits of 2023. As a reminder, SUI is leading the top token sales for Q2 2023 (based on current ROI):

[2] 🔔 Will Algorand ($ALGO) surge again?

ALGO is in a downtrend. The only good news is that the token has not updated its lows for a month already. There is hope that the accumulation stage of long positions has started, which may last for more than one week. Analysts at P_S_trade believe that it is rather risky to take ALGO into the portfolio at the expense of own funds, as we don't see the strength of buyers and the "desire" of the token to grow.

The first ray of hope for ALGO holders may be the breakthrough of the trend line and consolidation above the level of $0.15. In this case, there will be a chance for a continuation of growth to $0.20 and $0.26.

[3] 🔔 The Guild does not abandon its own

Guild.xyz is the infrastructure for platformless access management. Airdrop by Guild

On July 17, the project will have the first season of its Guild Pin Minecraft event end. Guild Pin's Holders Snapshot also went live on July 17. In the announcement, the developers didn't say what the holders would get for it. So what can Guilds give away? They definitely said it's not a token. It is likely an NFT collection, which will give different plushies to holders in the form of early access to the protocols with which the Guild cooperates. The faster the Pin is tokenized, the more points are given.

List of guilds with a Guild Pin (1 Pin = 1 MATIC):

A happy completion of this week's equator to all of us. We believe in crypto and the power of the community! See you tomorrow! ✨

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