What comes of TRON (TRX) and how real is the economic crisis?

Hey there, guys! We hope you're doing great. By the way, today is World Hamster 🐹 Day. Congratulations to those who celebrate (he-he)! 🥳

The buidlbee crypto community has tried and chosen only the best for today's letter (however, we always give 100%). Here's what's waiting for you in today's email letter:

• The dangers of the banking crisis: how realistic are they?

• What is going on with Justin Sun's TRX (TRON), and what are the USDT/TRC-20 problems?

• Polkadot’s Web3 messenger on the blockchain;

• Potential drop from Braavos;

• Keep an eye on Filecoin (FIL);

• Our quiz. You have a chance to win ETH tokens!

AND… drum roll Tiago is the winner of our quiz! High five, dude! 🖐

Let's run through some quick news (and keep going):

• The US Department of Defense simulates the collapse of the economy due to cryptocurrencies.

• Binance CEO Changpeng Zhao (CZ) said during the Web3 conference in Hong Kong that he will be very interested in blockchain payments in the next few years. Current crypto wallets are not easy to use, and there are many points that could be improved (including security).

• The March Consumer Price Index (CPI) report revealed. Inflation slowed down to 5% (6% YoY; expected 5.2%). On a monthly basis, prices rose just 0.1% after an increase of 0.4% in February. Core CPI: 5.6% YoY, 0.4% MoM (forecasted: 5.6% YoY, 0.4% MoM).

• Tether (USDT) deposits and withdrawals are now available on the NEAR Protocol network.

• Bitfinex became the first licensed crypto exchange in El Salvador.

• Binance US will delist Spell (SPELL) and TRON (TRX). Trading of the asset will cease completely on April 18.

• In honor of the Ethereum Shanghai Update ConsenSys created a commemorative NFT collection with free mint - Ethereum, Evolved: Shanghai.

• The Central Bank of Montenegro has officially signed an agreement with Ripple to develop a digital currency called stablecoin CBDC.

• Holders of Moonbirds will receive exclusive NFTs.

♾ Again on macroeconomics and forecasts

Despite Bitcoin's growth this year (last time we told you that BTC was the best financial asset in the first quarter), it has already been buried six times since the beginning of the year. A list of Bitcoin obituaries posted on 99bitcoins.com shows that a variety of authorities from the worlds of politics and finance have declared the leading cryptocurrency dead 473 times since 2010.

In 2022, Bitcoin has been declared dead by various VIPs 27 times; it is easy to see that the number of funerals for the major cryptocurrency has slowed down a bit in the current year of 2023.

The latest obituary for Bitcoin was written by Robin Brooks, chief strategic economist at the Institute of International Finance. A month ago, on March 14, he wrote doomfully, "So obviously Bitcoin is just another bubble that bursts when the Fed starts raising interest rates."

As you can see from the current price of $30k, Bitcoin has survived the interest rate hike just fine. At the same time, most CME FedWatch Tool analysts believe that the Fed will raise interest rates again by 25 basis points at the next Fed meeting on May 3. Apparently, the U.S. central bank has been tasked with finally destroying its banking system.

Meanwhile, the research and analysis division of Allianz published a new report, which says that the U.S. economy is "headed for a crash landing." Allianz is one of the world's largest insurance companies, with more than 122 million individual and corporate customers worldwide and more than 159,000 employees. The company is known for its risk management and in-depth analytics, and this time it is warning of an approaching banking crisis of epic proportions for the U.S. and the world.

🙄 An explanation of the situation with TRON and USDT (TRC-20)

The American division of the largest cryptocurrency exchange, Binance, announced the upcoming delisting of Tron tokens (TRX). We note separately that the removal of trading pairs takes place on the American Binance.US, on Binance.com everything remains unchanged.

The reason for the deletion is the accusations of unethical and fraudulent behavior, or negligence, by TRON founder Justin Sun from the US. While this accusation is valid, the exchange has decided to refrain from trading the asset in the U.S.

These actions on the part of Binance.US unfortunately coincided with a planned update to the TRON network, which multiple exchanges have warned may result in temporary problems with depositing and withdrawing USDT (TRC-20). In the coming days, exchanges will recommend depositing and withdrawing USDT using the ERC-20 protocol.

TRON disruptions and a thunderous announcement from Binance.US confused the community, causing short-term FUD; as a consequence, TRON's price dropped sharply by 6% but is already recovering.

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] 🔔 Big news for investors in Polkadot

The Polkadot project has filed a trademark application for a blockchain-based mobile messaging app.

The trademark will be the phrase “Polkadot Converse.” The application concerns “social networking software, software for creating, managing,and interacting with an online community, as well as software for creating, sending, and receiving electronic messages, images, and audio content.”

If Polkadot's application is approved by the U.S. regulator, this crypto project will pioneer the adoption of Web3 technologies in social networks and messengers. This is a rather unusual bet for this large altcoin, which is important for its investors to consider.

If you like the idea, you have time to invest before the application is approved, after which the market will probably react to such an ambitious rebranding of the project. The $DOT coin is currently the 11th largest cryptocurrency by market capitalization at about $7.5 billion.

[2] 🔔Braavos and potential drop

Braavos is a wallet on StarkNet. The project, with its quests in Zealy (Crew3), helps farm on-chain activity in StarkNet.

How to become a potential member:

• Complete the quests on Zealy;

• Pick up roles in Discord that can give you advantages.

You can also pick up NFT shields from Braavos and StarkNetID (only two of the three are available so far). How to get an NFT shield:

• Bronze

1) Register a domain with at least five characters (cost about $2);

2) Select the account with the domain and put your domain as the main one;

3) Go to the StarkNetID website and pick up your bronze shield.

• Silver

1) Set your domain as primary for 3 months or more;

2) Go to the StarkNetID site and mint your silver shield.

[3] 🔔 Check out Filecoin (FIL) for your portfolio

The FIL/USDT price is moving up against the market trend. The main task for FIL buyers is to keep the price above $5 before a real and strong upward movement begins. According to P_S_trade analysts, the FIL/USDT trading pair is quite volatile, so drawdowns of up to $4 are possible. Therefore, project supporters and those wishing to purchase these tokens for their mid- and long-term portfolios can place buy orders with a grid in the $4-$5 range. At the moment, the global growth targets for FIL/USDT are $25 and $44.

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

What do you think of Polkadot's blockchain messenger idea❓

And we want to remind you that this Friday there will be a Web3 online seminar on marketing and business from the buidlbee agency: "How to promote a Web3 project on the global market?"

• Participation price: free

• When: April 14th at 1 PM UTC

• Pre-registration: here

Cool portfolios and zero losses! Expect us tomorrow with a new batch of interesting and useful stuff.

🚨 Attention! 🚨

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