FUD around CZ, a new Twitter logo, and the sudden SXP pump

Hey, frens! The buidlbee crypto community team is happy to be of service to you again. Here's what we have for you today:

• What's going on around Elon Musk and Changpeng Zhao (CZ);

• The list of the most profitable initial exchange offering (IEO) platforms;

• How to get an NFT giveaway from SyncSwap;

• Arbitrage trading on the example of SXP (pros and cons);

• As well as a new drawing of Ether tokens!

Now let's quickly run through the key events:

• On March 13, the Euler Finance loan protocol was hit with a $197 million flash loan attack. The hacker returned all the stolen funds.

• Twitter user Cobie reported on a rumor that allegedly stated that Interpol had issued a "Red Notice" for CZ, the CEO of the largest crypto exchange, Changpeng Zhao. CZ denied this information.

• South Korean authorities seized $160 million in assets related to Terra employees.

• Dogecoin (DOGE) jumped 30% after the Twitter logo was changed from a blue bird to a token symbol.

• Vitalik Buterin assessed the impact of zkEVM (zero-disclosure proof) as very significant for the future of crypto. According to him, the integration of zkEVM into L1-blockchains is a necessary and inevitable decision. zkEVM is already working in Ethereum in a number of Layer 2 (L2) solutions or is in the testing phase.

• The Arbitrum community publishes a new proposal for voting — to blacklist systematic cheaters and return funds to victims who failed to get their ARB airdrop. In this way, the airdrop could theoretically be reviewed, causing even more confusion in Arbitrum's already overly active life.

• Canadian crypto exchanges WonderFi, Coinsquare, and CoinSmart announced plans to merge to create one of the world's largest cryptocurrency trading platforms.

• Uniswap's spot market volume reached $71.6 billion in March, up 45% from Coinbase. Against the backdrop of the FTX collapse and increased regulation, DEX's growth is quite impressive.

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!

Another round of FUD vs. Binance

• We checked the Interpol website for ourselves about the alleged search for CZ — Interpol did not send out any such notices.

• Earlier, well-known crypto influencer Cobie launched a rumor about Interpol's request for the arrest of the head of Binance CZ — he published a hash of an encrypted 5-word phrase, which could be deciphered as "Interpol Red Notice on CZ." Also published was a scan of the document allegedly notifying the head of Binance. The information caused a large wave of FUD, although Binance quickly denied this information. Later, Cobie himself admitted that it was a joke.

• According to Kaiko, over the last 2 weeks, the market share of Binance dropped by 16%. The share of the exchange fell sharply for the first time after a year of market dominance. As analysts suggest, the reason could be the lawsuits against the exchange and the end of the trading program with zero commission.

New Doge pump

Investors have accused Musk of manipulating the market, previously raising the price of Dogecoin by more than 36,000% and then crashing the market again. 

The class action lawsuit asks for $258 billion in damages (the annual budget of the average European country). However, Musk's lawyers called the claims "a bizarre fabrication" and said there is nothing illegal about posting funny pictures known as memes on your personal Twitter.

As if wishing to troll the suitors, today Twitter's logo was temporarily changed — instead of the usual blue hummingbird, there was the image of a dog breed called the Shiba Inu. In response, the price of DOGE rushed upward again and reached nearly $0.105 (+30%). Now the memecoin is already decreasing.

Nowhere to Run

Traditionally, all bankrupt crypto investors took temporary jobs at McDonald's (a popular urban legend). But this time it will be harder to do so: McDonald's is temporarily closing many restaurants in the U.S. and preparing for massive corporate layoffs, the largest in 10 years.

👉 Opportunities

[1] 🔔 Tasty places for investors

Sometimes the question of "what to buy" is better reformulated as "where to buy." Analysts have analyzed all the recent IEO/ICO, and selected the best platforms on which the most successful campaigns came out. If the leadership of Binance is obvious because it has more and better-known projects, then KuCoin in second place is a pleasant surprise.

[2] 🔔 How to get an NFT giveaway and extras from SyncSwap

SyncSwap is a decentralized exchange (DEX) built on zkSync, which in turn is ZK rollup, a protocol that uses cryptographic zero-knowledge proof to provide scalable and inexpensive transactions in Ethereum. The project now has more than 187,000 followers on Twitter, including TrustPad, CyberConnect, and Poolz Finance.

SyncSwap has started giving away NFTs, for which there is a chance to get the OG role and be a candidate for a retrodrop (if there will be any).

How to participate:

• Go to ChainList and add the zkSync Era network to your wallet

• Then go to the official bridge of zkSync Era, and transfer a small amount of the funds from the ETH network to the zkSync Era network.

• Go to SyncSwap, and make 3 swaps.

• Go to the pool, choose any pair, and click "Deposit".

• Deposit a small amount of money in the pool (after the NFT claim, you can withdraw it back).

• Go to SyncSwap's Galxe, log in, add Twitter, and do the remaining tasks.

• After that, the NFT claim will become available (transferring back through the bridge to the Ethereum network can take 24 hours).

[3] 🔔 SXP arbitrage trading

The announcement of Swipe’s plans to swap from the old SXP to the new SXP mainnet coin and rebrand to Solar managed to interest buyers. The SXP/USDT price has started to climb. Since March 28, the value has tripled from $0.29 to $0.90. Now is a great time for SXP arbitrageurs because you can catch a 7-8% difference in price between exchanges. For example, at the time of writing, the price of SXP on WhiteBIT is $0.81, and on Binance it is $0.87.

SXP may reach $1.10-2.10. In this price range, the situation could change dramatically, as people who bought this token at this price 1–2 years ago could start selling it.

Profiting from the difference in the price of a token on different exchanges is called arbitrage trading (this is the most common, but not the only option). Exchange rate differences arise because of the different liquidity of trading on exchanges. Large platforms have a lot of users and trading is active, while small exchanges have low liquidity, so rates on them may lag behind the market. This is what traders take advantage of. Also, the higher the transaction costs, the fewer arbitrageurs are willing to make deals, and the larger the exchange differences between large and small exchanges.

Possible problems:

• Freezing or delaying withdrawals;

• The longer it takes for funds to go from one exchange to another, the greater the chance of losing funds due to commissions or changes in the price of the asset;

• Risks of hacking smart contracts if decentralized exchanges are used;

• Potential backdoor in the trading bot. For the program to work, the user provides it with API keys that give it full access to the funds. And the developer, being able to control it remotely, can take advantage of that for his own gain.

📝 A quick note

Our friends at Aurora blockchain talked about the features of their project and the rewards for users.

Aurora has several features:

• Horizontal EVM scaling due to the sharding approach underlying the NEAR protocol;

• The only trust-free asset bridge in the Ethereum ecosystem, the Rainbow Bridge;

• Transaction finality less than 2 seconds;

• Built on NEAR and offers usability in addition to scalability and speed.

Aurora Cloud enables enterprises to run EVM-enabled blockchain to drive business in key areas.

The Aurora Plus platform offers 50 free transactions per month to registered users. And there are regular events in 10 regional communities.

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

Will DOGE hit $1❓ 

We wish you profit and zero risk! See you tomorrow!

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