Sup, guys? It’s the buidlbee team with a new pile of all sorts of useful goodies for you. We've prepared this kind of analysis and insights for our crypto community in today's letter:

• The controversial situation in the U.S. economy;

• CEX exchange rankings by WuBlockchain;

• Litecoin's halving is getting closer, what to expect?

• Flow (FLOW) accumulates power (technical analysis);

• Participating in Mint.fun’s !fun Fridays event.

And now the quick news of the day:

• Some Multichain users are complaining about the delay in the arrival of current interchain funds. Multichain's officiapresenta in Discord stated that some routes (Kava, zkSync, Polygon zkEVM) are temporarily suspended.

• TRM Labs: Attacks on token protocols and crypto projects dropped a staggering 70% in Q1 2023 compared to the same period last year.

• The Securities and Exchange Commission (SEC) never complied with Coinbase's request to review and comment on the exchange's petition. Coinbase has therefore filed a new petition with the U.S. Court of Appeals for the Third Circuit, seeking a review of the claims.

• Binance will remove and stop trading the following spot trading pairs: APT/BRL, AMP/BTC, BEL/ETH, FIS/BRL, GAL/ETH, GMT/BRL; APE/AUD, AVAX/AUD, AXS/AUD, DOT/AUD, FTM/AUD, LINK/AUD, SAND/AUD, SHIB/AUD; GMT/GBP, JASMY/BTC, KP3R/BNB, REI/BNB, SANTOS/BRL, STMX/BTC, XTZ/BNB.

• The United States Treasury Department has imposed sanctions on Binance wallets belonging to North Korea.

• At the WSJ Summit, Elon Musk warned about the risks of investing in Dogecoin ($DOGE).

👹 What's new? U.S. gets closer to debt shock, SEC argues with CFTC for crypto regulation, BTC transforms into monster

What's new in the crypto market over the past 24 hours? We list the main events in the world as briefly as possible.

🙄 Controversial situation in the U.S. economy

• TC side movement continues: after yesterday's small growth of BTC above $27k, today Bitcoin rolled back to $26,700 again. Analysts are inclined to be flat in the near future, as the positive scenario (a pause in rate growth) is already taken into account by the market. Now there is a need to follow the news on US government debt negotiations.

• But there's been no positive news on the government debt, with Biden administration officials and Republicans saying there's been no progress. And here are the first signs of the approaching U.S. debt shock: the U.S. Treasury has asked the government for permission to postpone all its payments due to a lack of funds starting next week.

• Added to that is the chaos of crypto regulation in the US: Ethereum falls under the scope of the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) simultaneously, the regulators announced today. This confuses the situation even further, forcing crypto companies to leave U.S. jurisdiction until the situation is clarified.

📃 CEX rating in 2023

Well-known analyst WuBlockchain released its ranking of cryptocurrency exchanges, breaking them down into segments by degree of influence:

• T0 — Binance

• T1 — Coinbase, OKX, Upbit

• T2 — Bybit, Kraken, Bitfinex, Deribit

• T3 — KuCoin, Bitget, MEXC, Gate

The rating is based on a set of factors: the impact on the market, trading volume, number of users, and estimated profitability of the exchange.

👴 Old Grandpa transforms into a crypto hippie

Bitcoin seems to be undergoing some kind of unexpected transformation into something new, thanks to Ordinals/BRC20. And it's not even about the fact that it entered the top 3 among blockchains distributing NFT (although a couple of months ago it seemed like a joke). In this thread, an expert describes fundamentally new features that may appear in BTC in the near future:

• BitStake Protocol. The first staking platform with a launchpad for BRC-20 tokens.

• Omnisat. This is the first BRC-20 AMM on Bitcoin.

• BRC721. The new advanced standard for NFT on Bitcoin.

So if you think the BRC20 ecosystem consists only of shitcoins and weird inscriptions, you're wrong. Here are three projects in active development: two of them are building a real DeFi-platform on Bitcoin rails, while the last one implements the famous ERC-721 standard on the Bitcoin network.

💲 Ideas

[1] 🔔 There is a very interesting situation in Litecoin

Litecoin will soon have a halving at the end of July 2023. This will be a significant event for the Litecoin network. Every halving historically pushes prices to new records after some time.

But the situation is actually even more interesting. In May, the new LTC20 standard was launched, which leads to a gradual increase in the intensity of transactions on the blockchain, effectively creating a new market similar to BRC20.

Traditionally, Litecoin has shown patterns that were then repeated in Bitcoin, so halving LTC is worth taking a closer look at. Those who want to try to speculate on the halving should start entering LTC, because bigger speculators will start entering the coin as the event approaches.

To understand what opportunities halving gives, let's look at the dynamics in the example of BTC:

[2] 🔔 Keep an eye on Flow (FLOW)

FLOW/USDT is forming a bottom in the area of $0.742, according to RLinda analysts. After numerous attempts to break through the trend resistance, it succeeded. A consolidation is forming, which could push $FLOW up.

The level of $0.742 is the key support at the moment. The bulls' task is to keep the price above this area.

Over the past month, $FLOW has been forming a decline in volatility and moving into a consolidation phase.

The pair FLOW/USDT has accumulated the potential for a breakdown of resistance. In the case of the breakdown of local resistance areas, it may start the phase of realization of accumulated energy.

• Strong support: the previously broken wedge boundary, the level of $0.742.

• Strong resistance: $0.800, MA-50, MA-200, $1.000.

If bullish support is successful, FLOW will continue to strengthen towards $1.000 and $1.800.

[3] 🔔 Getting active during !fun Fridays

During the Mint.fun event, you could mint an NFT pass and make NFT purchases through their service. This earned points, for which yan now mint NFTs from artist numo with a refund of the ETH spent on gas, as part of the !fun Fridays event.

How to participate:

• Use the service daily and get points for it, for which there will be an NFT mint with a gas refund available. Every Friday until July 14, an NFT reward will be available from different artists.

• Rewards are calculated based on the following criteria:

• Length of the coin series since your pass was minted;

• Position on the leaderboard;

• Overall point rating;

• Activity during the past week.

• But first, you have to mint the pass. Those who do that before Monday will additionally receive Streak Saver, which will allow you to extend your series of mints if you miss one day.

With the current gas price, the commission per mint comes out to about $5. And at the end of the week, you will get a gas refund, but if you miss at least 1 day, they won't do it (so you can use Streak Saver).

A drop from Mint.fun is possible, and there is a very good chance that it will be for these NFTs. So there’s a point to keeping them.

We hope your activities are going well and are great! See you tomorrow. We'll be back with another batch of 🆒 information and ideas for you!

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