💪 The crypto market turns into a playground for titans

Hello, crypto brothers and sisters! The buidlbee team has gone above and beyond to compile an incredible collection of information just for you. Check out the exciting details in this email. Here’s what awaits you:

• The expansion into the crypto market by big players. What does this mean?

• What’s interesting about #FXS?

• SHIB’s “inevitable” pump.

• NFT transfer to the opBNB mainnet.

Here's a roundup of captivating news highlights:

• WisdomTree and Invesco have filed for a spot Bitcoin ETF.

• Polygon's co-founder has suggested deploying the zkEVM Validium update.

• Tether announced launching the U.S. dollar-pegged Tether token (“USD₮”) on Kava.

• The DefiLlama founder detected an exploit in the Foundation's NFT Marketplace.

• Crypto bull market Bitcoin rose above $29K.

Current market situation

Bitcoin broke through resistance at $26k and is testing new resistance around $29k. The reason for the strong growth of the market is the arrival of a series of super-big players, whose actions we analyze below.

Crypto market expansion

• Just a couple of days ago, we wrote that Blackrock, the world's largest investment bank with about $10 trillion in assets, is applying for a spot Bitcoin ETF.

• Following them, Fidelity, which manages $5 trillion in assets, is applying for a spot Bitcoin ETF.

• Today, Wisdomtree, which manages $87 billion in assets, also filed for a spot Bitcoin ETF.

• Deutsche Bank, Germany's largest bank, is applying for a blockchain and cryptocurrency license to provide these services to the public and businesses in the EU.

• A new crypto exchange, EDX Markets (EDXM), backed by Citadel Securities, Fidelity, and Schwab, has launched.

What's going on?

Blackrock and Fidelity, the super giants of the financial sector, entered the market and even Alphabet (Google) is quite a small company compared to them. Is this the long-awaited recognition and mass adoption? No, it's more something else.

Recently, we have witnessed a serial repression by the regulator, which filed charges of one kind or another against the leading players, Binance, Coinbase, and Kraken. The crypto industry is under tremendous pressure from the regulator. This was preceded by the bankruptcies of major crypto players such as FTX.

Since the beginning of 2023, after the authorities started attacking crypto banks, a number of experts have been spreading the theory of an organized government attack on crypto. An important phase of this operation, referred to as Chokepoint 2.0, is the arrival of major system players in the industry after the government has eliminated (or paralyzed) competitors there.

Earlier, the SEC rejected hundreds of applications from small firms to launch Bitcoin ETFs. The emergence of Blackrock and Fidelity players after a series of attacks is momentous and predictable. User @WClementeIII describes the current situation this way:

“If Blackrock's spot ETF application gets approved, it is undeniable that Operation Chokepoint 2.0 was orchestrated to drive out crypto native companies and bring in large traditional firms that are buddy-buddy with the US govt to try and control Bitcoin/crypto.”

“Crypto is ripe for traditional finances takeover”

It usually takes about six months to review an ETF application. Around the fall, we will find out if a plan to take over the market by large multinational companies has been launched. If so, in the beginning of 2024, there will be HUGE capital coming into the crypto market from traditional markets, around the same time another Bitcoin halving will take place.

It's already obvious that the super-big players with capitals exceeding the budgets of most countries are trying to launch their alternative cryptocurrency infrastructure with their own exchanges and ETFs. Dawn Fitzpatrick, CEO of Soros Fund Management in early June 2023, summed it up briefly: "crypto is ripe for traditional finances takeover.”

As you can see from the current situation with Bitcoin, the market has taken the arrival of super players as a positive event. Time will tell how this will really turn out for the market.

💲 Ideas

[1] 🔔 Idea #1: Interesting events around #FXS

The founder of Frax has expressed support for Ouroboros Capital's proposal, which pushes for a more aggressive buyback strategy for tokens. In fact, they want to redeem their tokens in a permanent buyback style like the stock market.

The mechanism has worked fine so far, judging by the chart. The token has risen by 7% in the last 24 hours alone. There is no guarantee that it will work for a long time, but in the short term, it is quite interesting.

[2] 🔔 SHIB “inevitable” pump

According to MadWhale's technical analysis, Shiba Inu is near the main support level in the triangle pattern, which indicates the probability of the continuation of a certain trend in the market.

In addition, even if it does not enter the pattern, gain and pump from the level marked in green is expected, which is also an acceptable scenario.

*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] 🔔 NFT transfer to the opBNB mainnet

BNB Chain has launched a new opBNB network based on Optimism. According to the statement, it is designed to reduce transaction fees by moving computation and data storage outside of the main blockchain.

The mainnet is scheduled to launch in the third quarter of 2023, and now everyone can transfer NFT to the opBNB network via xkBridge. Why? To make the first transaction on the new network. Here's a list of steps to take:

• Joining Discord BNB and moving to channel Testen-fauce2;

• Calling the /faucet command and inserting the MM address;

• Bridging the test BNB into the opBNB network.

• Switching to Testnet;

• Choosing the BNB network then pressing NFT faucet;

• Minting Greenfield Testnet, then pressing zkBridge NFT;

• Selecting the opBNB receiving network in the second step;

• Confirming all operations and claiming NFT in the opBNB network.

Remember, in the realm of cryptocurrency, knowledge and awareness are paramount. Stay informed about the latest trends and approach the market with careful analysis. Thank you for joining us on this thrilling journey. May your transactions be successful and well-thought-out. Until next time.

🔥 Attention

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