⭐ Crypto insights weekly buzz

Don’t miss these news, trends, and updates. 

Greetings, crypto explorers! Embark on another week of blockchain brilliance with the buidlbee team as we unpack the latest trends and updates from the dynamic crypto world. In this newsletter, you will find out about such important events and news:

  • Happy BDay, BTC!

  • Storm in the crypto market pending the SEC's decision;

  • Biggest Layer2 protocols by number of dApps; 

  • Hackers stole about $100M in December 2023;

  • Key market events for January 3-10: upcoming listings, giveaways, launches, and hackathons in the crypto space; 

  • Interesting cryptocurrency-related ideas.

🎂 Bitcoin’s birthday!

15 years ago, on January 3, 2009, the first block and the first 50 bitcoins were generated. Its hash is partially composed of the text “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

This is the headline of an article in the British edition of The Times.The article was about how UK Finance Minister Alistair Darling is being forced to consider new measures to bail out banks amid the economic crisis.

🛑 Holding our breath: Bitcoin at $20k or $50k?

Matrixport analyst Markus Thielen believes, that the SEC will likely reject all applications for a spot bitcoin ETF in January.

And SEC head Gary Gensler does not support cryptocurrency in the U.S. and is unlikely to vote to approve the applications

Notably, Matrixport said a day earlier that the SEC may approve the ETF applications on January 2-3. 

In anticipation of a possible SEC decision, cryptocurrencies are rocking. While Bitcoin was near $46k on January, 2, it fell to $40k on January, 3.

Also, the top altcoin values have crept down.

Skeptics believe that if the SEC rejects applications for a spot bitcoin-ETF in January, the digital gold will fall by half. Advocates believe, if approved, it will jump above $50k.

🧲 Biggest Layer2 protocols by number of dApps in each ecosystem 

In the last couple of months, zkSync and Linea have almost caught up with Optimism, which has been around since January 2021. 

Scroll has entered the top 5 in terms of the number of apps in an ecosystem in just 2 months.

🦹‍♂️ Hackers stole nearly $100M in 36 attacks in December 2023

On the eve of 2024, Orbit Bridge suffered an $80 million hack. 30 million USDT, 10 million DAI, 10 million USDC, 231 wBTC, and 9,500 ETH were stolen.  

This is the 9th largest cross-chain bridge hack in the last 3 years.

🔑 Key crypto market highlights (January 3-10)

💲 Ideas

[1] 🔔 Diving into Magic Square 

Magic Square is a marketplace for various applications in Web3 where users can vote for a new dApp to appear on the platform

The project has raised $4M from Binance Labs, KuCoin Labs, HTX Ventures, and private rounds.

The SQR token is scheduled for Q1 2024. And there are chances to get it.

There is a campaign going on right now (https://blog.coinlist.co/announcing-magic-squares-road-to-tge-rewards-program-rjlsb/) on Coinlist Road to TGE with 2.5 million SQRs allocated.

Go for the SQR:

Check ratings, points, and tokens here

The deadline is January 5.

[2] 🔔 How Arbitrum and the cup are related?

A lot of ARB tokens were given away for free, there are many large and small holders.

Sooner or later, the pumping will start. However, P_S_trade analysts do not recommend replenishing your crypto portfolio with ARB in the current situation.

Another thing is the range of $1-1.30, there was a certain "struggle" between buyers and sellers, and there was a certain redistribution of capital.

Analysts believe that now ARB may be in the process of forming a pattern of cup with handle. It is a technical indicator, where the cup is shaped like a "u" and the handle has a slight downward drift.

*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

[3] 🔔 Airdrop by KiloEx?

Last year, Binance Labs invested in four projects from Season 6 of the MVB program.

One of the finalists is KiloEx, a futures DEX on BNB Chain, opBNB and Manta. On January 2, according to DefilLama, KiloEx was the second-highest volume after dYdX among PERP DEXs.

How to obtain a potential drop:

  • Go to KiloEx;

  • Trade on KiloEx in opBNB and Manta networks;

  • Sometimes KiloEx holds various award campaigns, so subscribe to the project’s Twitter and follow the announcements. 

As we close the chapter on this week's crypto saga, may your portfolios flourish, and your crypto endeavors be prosperous. Until our paths converge again, stay vigilant and ride the crypto wave with confidence! 🌊🏄‍♂️

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