💼 eXceRPt from Ripple's case

What’s up, crypto connoisseurs? It's your buidlbee crew here. Grab your virtual pickaxes and prepare for another round of crypto adventures. Whether you're a blockchain buff or just here for the memes, we've got a byte-sized dose of crypto goodness coming your way. 🚀💎

So put on your "Buy the Dip" t-shirt, charge your digital wallets, and let's dive into another issue filled with crypto laughs, insights, and maybe a sprinkle of altcoin magic with us. And here is what we have prepared for you this Friday:

• New tops from different crypto segments;

• What's going on with Ripple;

• Technical analysis* $RUNE in the med-term perspective;

• Upping in Base.

Here's today's highlight:

• DeBank announced the launch of the DeBank Chain test network based on OP Stack.

• An unknown user under the pseudonym nd4.eth burned $GMX and $GNS tokens totaling about $3.3M. Also among the NFTs burned are Bored Ape Yacht Club and CryptoPunk. And now, X (ex-Twitter) user with the nickname nd4.eth has announced the launch of his own coin.

• Bybit has added support for Ethereum (ETH) input and output on the zkSync Era network.

• On August 10, the number of daily active users of Coinbase's L2 Base network exceeded 100K for the first time, reaching 136K.

• Gate and Kraken will list Sei on August 15.

• The Bittrex exchange has reached a deal with the SEC and will pay a $24M fine.

👑 The best in their segments

Today, summarizing the results of the week, we decided to gather the latest statistics on different sectors of the crypto world.

Top 10 blockchains by funds raised in public token sales in 2023. The Ethereum giant is leading the way here (which is not surprising), and the 2nd, 3rd, and 4th places are also interesting, featuring leaders from the new wave of blockchains: Arbitrum, BNB, and Polygon. This is actually an indirect metric of the popularity of different blockchains.

Top 15 staking providers by total staking amount. Coinbase and Binance are the leaders here. As you can see, so far, centralized exchanges control the staking market. The leader is the American exchange Coinbase, which has already received a warning from the regulator about the illegality of this service (so far it has been ignored), and we often write about the problems with Binance. From here, we can see that the staking market is quite fragile and vulnerable to regulatory attacks.

Top 15 NFT-collections by trading volume growth over the last 30 days. Leading the way are the legendary Phunks.

💲 Ideas

[1] 🔔 What scenario to choose on XRP?

The situation on Ripple is constantly changing. The recent euphoria from the legal victory in the U.S. court is again replaced by anxious anticipation and uncertainty. Recall that according to Kaiko data, XRP is the leader in the ranking of altcoins in terms of trading volumes this year. So let's try to update the state of affairs for this large and important crypto asset.

The very good news is that BIS (Bank for International Settlements, the global regulator of banks) has appointed Ripple as an official member of the Cross-Border Payments Expansion and Interoperability Task Force. This recognizes Ripple's important role in trying to create a universal CBDC.

Meanwhile, there is some negative news that calls into question the recent XRP rally. After deliberation, the US SEC has decided to appeal Judge Torres' ruling that Ripple (XRP) is not a security. The regulator is confident that the sale of XRP on public exchanges complies with federal securities laws. The situation is quite dangerous for Ripple because, previously, another federal judge also overruled the precedent ruling of fellow judge Torres due to the controversial nature of the original ruling.

It is important to realize that this attempt to overturn the original favorable ruling on Ripple will hit very hard not only XRP itself but all altcoins that the SEC previously charged in absentia with illegal trading. In that respect, this is a crucial event for the crypto market that should be closely watched.

It is very telling how Ripple itself reacted to this situation. Today it became known that the company has unlocked for sale another bil XRP tokens (for the amount of $225 million). Ripple reassured everyone that this time the tokens will not get on the exchanges immediately but will be sold "more quietly". After the first transaction, several batches of coins totaling 40 million XRP went to unknown addresses. Over the past week, the value of XRP has dropped by 4% and is now at $0.63 per token.

Obviously, Ripple itself is actively preparing for a bad scenario by organizing sales of huge amounts of tokens to create a safety cushion. It seems to be the safest line of behavior for all active participants in this market.

[2] 🔔 After the bottom, RUNE will prepare to pop up

RUNE is forming a prolonged downtrend. After testing the bottom, the realization of the bullish potential may begin, the RLinda analyst believes.

A rebound from $0.777 will form a bullish reaction against the background of bitcoin growth. The token is between local resistance at $1.110 and support at $1.003. It is possible that the formation of local consolidation will occur with the subsequent retest of the upper boundary of the flat and the realization of the breakout. MA-50 acts as support, and MA-200 acts as resistance. These fluctuations can be used in the medium term.

Support levels: $1.003, $0.777, MA-50

Resistance levels: $1.110

A possible retest of $1.110, a breakout, and further growth to $1.433-$1.722.

*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] 🔔 Waiting for Base's perks

Recently, there was news of the official bridge launch and the soon-to-be-launched Base network itself, and a slew of integrations and campaigns flew in the wake. Orbiter on Galxe has launched a quest, Orbiter Bridge Odyssey: The Base Flight. Deadline: August 18.

Base is the latest Ethereum Layer 2 network developed by Coinbase using OP Stack software from the popular Optimism Layer 2 network.

What steps to take:

• Make a bridge from any network, any amount of ETH, to the Base mainnet via Orbiter;

• Complete campaign quests.

See ya, fellow crypto adventurers! As we wrap up this blockchain bonanza, remember: HODL your dreams and steer clear of those FOMO-inducing moon missions. 🌌🔐 Keep your private keys safe, your minds open, and your heart in the blockchain game. Until Monday, may your orders be as smooth as a well-optimized smart contract. To the moon and beyond, crypto compatriots! 🌙🚀