📉 Falling market blues? Not for these cryptos…

Hi,guys. The buidlbee team welcomes you to our latest crypto newsletter, packed with mind-blowing information that will keep you on the edge of your seat. Brace yourself for an epic journey through the wild world of cryptocurrency. Let's dive in:

• Oil, gold, and Bitcoin: unmasking the ultimate profit champion.

• Navigating the market’s freefall: discovering the gems amidst the chaos.

• $DASH dilemma: to short or to long? That is the question.

• Technical analysis: Solana’s bull cycle.

• Free NFT from Holograph.

Hold on tight and don't let the fast-paced world of crypto pass you by. We've got you covered with a quick recap of the past 24 hours:

• Uniswap announced its "vision for v4.”

• Banq, the payment subsidiary of Prime Trust, filed for bankruptcy.

• NFT marketplace Blur unlocks 196M tokens.

• Capitalization of Tether stablecoin set a new record.

• Binance did not sell Bitcoin to save BNB — CZ.

• Coinbase user reported a phishing attack on the platform.

Tether USDT is the new Binance

Almost all stablecoins competing with USDT have had problems. The reputational blow led to the loss of their former capitalization.

Against the background of these competitors' problems, the dominance of #USDT in the market supply is increasing, setting new records almost every month. At the moment, the dominance of USDT is close to 70%, which is a record since May 2021.

In fact, Tether (USDT) is becoming similar to Binance in the world of stablecoins. As Binance's recent experience shows, any giantization makes the market vulnerable to painful regulatory attacks as well as epic FTX-style collapses.

Negative effects of an altcoin attack

Market makers on U.S. exchanges are moving away from the top altcoins. As a result, the share of altcoin liquidity, as measured by market depth, has fallen from 41% to 28% since February and continues to fall further.

What does this mean in practical terms? Reduced liquidity leads to difficulty selling large amounts; trading volumes decrease, asset capitalization falls, and the market becomes more volatile and fragile (prone to collapse). In other words, the altcoin market has been hit hard, and its negative consequences are just beginning to emerge.

The most resistant proof DeFi-projects

For the second week, the market has been under stress. It's a good time to look at which DeFi projects are doing best under the pressure of FUD.

Here are the top 10 DeFi projects with the lowest market cap-to-TVL ratio. Current leaders: Instadapp, Tornado Cash, UniCrypt, Lybra Finance, and JustLend:

Another interesting metric is the top 10 projects with the lowest price-to-sales volume ratio. Leaders are: Rarible, Hegic, BetSwirl, CAP, and Level Finance:

Non-standard performance metrics for BTC

MicroStrategy compared gold and BTC returns since August 2020, when the company began buying in Bitcoin:

Glassnode also cites the relative price of BTC/WTI: BTC has been in an uptrend relative to the price of benchmark oil since early 2023:

What's the conclusion? Comparing Bitcoin to gold or WTI, we see that BTC is more interesting. Considering that crypto has a stagnant market right now, this comparison is very impressive.

💲 Ideas

[1] 🔔 $DASH: to short or to long, that is the question

The previously known old coin DASH is expected to undergo halving on June 23, and that's a big date for any PoW cryptocurrency (kind of like New Year's Eve for the average person). But in the case of DASH, the situation is very controversial; the SEC listed it as a security, so the asset has already collapsed a lot.

On the other hand, the approaching halving is already starting to stimulate growth. This coin tries to grow even despite strong FUD. For example, this altcoin rose 4% in the past 24 hours. So, we might consider this a short-term speculation because there is not much time left before the halving and most likely we will see more expressed growth impulses in the nearest week.

[2] 🔔 SOL bull cycle

According to the technical analysis of CryptoCheck, Solana has great growth potential. And there are several reasons for this:

• SOLUSDT is in an Accumulation Phase based on Macro Cycle analysis.

• SOLUSDT established a clear bottom with CryptoCheck START v3.5 RSI showing oversold.

• SOLUSDT is trading range bound after the bearish cycle has completed.

• According to market cycle/phase analysis, the next step to follow is the bullish cycle.

• Clear support zone and resistance zone ranges can be identified by using Technical Indicators.

And even if the value of the asset is low in the near future, the next cycle will be bullish, the expert believes. One just needs to be patient.

[3] 🔔 Free NFT from Holograph

Until June 15, all interested users can mint the NFT from Holograph. What it gives:

• increased wallet activity;

• NFTs can be moved between networks;

• the project is linked to LayerZero, which can be a multiplier in the protocol's drop.

Mint will pass through networks such as Polygon, BNB Chain, Ethereum, Optimism, and Avalanche.

Start mint button

Farewell, crypto adventurers. Until next time, may your journeys in the world of digital assets be filled with success and endless sweet options.

🔥 Attention

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