This DEX is showing stunning results - our deep dive

Salute, fam! The buidlbee crypto community team is here with the most interesting and useful news and opportunities for you. We worked hard, and this is what we prepared:

• The Shanghai is getting closer: all the important things about the Ethereum upgrade;

• Don't like paying taxes? You're not alone. Here are some interesting numbers;

• The fastest-growing DEX in the world: why Trader Joe is gaining the lead;

• The AAVE price could reach $300;

• Where you can win WL or NFTs.

🤩 Hey, Ronghinglova! Today is your lucky day. You won our quiz. Hooray! 🎇

Main news first:

• The U.S. Treasury Department says decentralized crypto markets (DeFi) threaten national security;

• Buncombe County in North Carolina is considering a 1-year moratorium on new and existing Bitcoin mining operations;

• The U.S. non-farm payrolls recorded a seasonally adjusted increase of 236,000 in March, compared with expectations for 239,000 and the previous reading of 311,000. The unemployment rate came in at 3.5% in March, below expectations for 3.6% and the previous reading of 3.6%.

🚀 Once again about Shangai — only the most important things

Next week's main crypto event is the Ethereum update called Shangai. Once again in FAQ format, let's refresh what it is and how it can affect the price of $ETH.

What is the Shangai update?

As of December 2020, users could stake ETH but not withdraw it. The Shangai update will allow all stakers to withdraw ETH blocked since December 2020, as well as rewards accumulated during that time.

How much ETH has been staked?

Since the launch of Beacon Chain, some 520,000 validators have staked over 16.5 million ETH (~$25 billion).

Where's the stake?

The biggest player in the market is LidoFinance. It accounts for almost 5 million ETH and 29.2% of the market. The leading exchanges in the staking market are Coinbase, Kraken, and Binance, which account for over 4 million ETH and about 26% of the market.

Influence on the price

• It will not be possible to withdraw all of ETH at once; there will be withdrawal regulations.

• Rewards can be withdrawn directly, which is 1.03 million ETH or 1.9 billion in US dollars. Given that the daily volume of ETH is approaching $8-10 billion, there will be a slight selling pressure.

• The amount staked by the validators cannot be withdrawn immediately. It is limited to 50,400 ETH per day, or $95 million, which is a minor amount compared to the daily volume.

What about buyer pressure?

Staking fees are inversely related to the number of validators. This means that if the number of validators decreases (validators withdraw their ETH), the rewards will increase and attract new validators.

While everyone is waiting for sales, on the contrary, many are waiting for the Shangai update to start staking ETH, because:

• You can withdraw your ETH at any time (no lock-in).

• There is confidence in the technical success of this update (less risk).

So there is also buying pressure, which is likely to be greater than selling pressure. At the current price of ETH, this effect is already being tracked.

As a short conclusion, we can state that the fear of ETH price collapse after the upgrade is greatly overstated, although short-term volatility during the first days after the upgrade is likely.

💱 Fun fact about crypto and people

As you can see from the statistics below, it's obvious that cryptocurrency was not created to pay taxes. Looking at the tiny numbers of those willing to pay the tax, the increasing pressure from regulators is partly understandable. Note that the most law-abiding were citizens of Finland and Australia. Of the major countries, the most asocial elements ignoring the state institutions reside in India, Brazil, and Turkey.

🔝 Top 5 DEX

Since the collapse of FTX and a series of legal attacks on Binance and other exchanges, it has become clear that CEX is not the most reliable way to keep money, and the public's attention has gradually shifted to the top DEX exchanges. In 2023, DEX has begun to boom; here are their current Top 5:

We pay special attention to Trader Joe's, which for the first time rose in the top 5 DEX and, by the volume of trades, is considered the fastest-growing DEX in the world.

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] 🔔 Why invest in the fastest-growing DEX

The trendy DeFi/DEX Trader Joe's continues to set records for distribution speed, with DEX itself showing the fastest growth rate since the adoption of the Uniswap V3 model.

Since the copyright protection for the main Uniswap V3 code expires on April 1, many projects will have the legal right to copy Uniswap V3 and to fork code for commercial purposes; one such project is DEX Trader Joe, which now works on Ethereum, Avalanche, Arbitrum, and BNB. Also, pay attention to their platform, Joepegs NFT, which is integrated into the exchange; the ambitions of the project will pleasantly surprise you.

Over the past three weeks token $JOE grew by more than two times and as of today amounted to $0.57. What is particularly nice is that the reason for this growth is fundamental — the exchange is growing rapidly, its turnover is increasing.

And even if you don't want to invest long term, there's reason to speculate as well: DEX Trader Joe's plans to launch a heavily upgraded trading engine next week.

[2] 🔔 Is AAVE up to something?

The Aave (AAVE) price could reach $240-300 in the long term and $125-130 in the medium term. However, this is only possible if buyers can keep the AAVE price from a deep correction and at a level no lower than $67-70 in the near term.

So if you are interested in this coin, keep a close eye on it.

[3] 🔔 Three options to win the NFTs

To try your luck at these NFT raffles, you need to plug in your wallet, complete the tasks, and wait for the draw to end. In the event that you win a whitelist (WL) spot, you can sell it on OTC or try to mint NFT, which can also be sold on OpenSea.

Digital Doka is a hype Korean project from anime studio Studio9Lives, which has previously worked with Netflix, Pokemon Go, Yokai Watch, and others.

• Registration: April 16, 2:05 a.m.

Oceans of Terra is a pixel free-to-play underwater-themed top-down RPG game.

• Raffle time: April 7, 3:20 a.m.

• Mint date: April 15.

• Registration closes on April 14 at 3:19 a.m.

• Number of winners: 100 spots.

Walts Vault is a bright project with Disney-style art. No detailed information is available yet.

Requirements: follow Twitter (main account only), join Discord, and have a Dreamer role.

• Mint: April 30.

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

Will the price of ETH rise or fall after the Shanghai release❓

Have safe deals and a happy weekend. See you on Monday!

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