👀 Keep a close eye on the FTT

Today is a fantastic day to recharge your batteries and set yourself up for success. All right, this is the buidlbee crypto community team. And you got this letter because you want to know important information about the market and get tips. And it's all in clear language. In today's letter, you'll discover the following:

• Analysts predict another Bitcoin bull run;

• Why you should keep a close eye on the FTT;

• Kava at the crossroads;

• Taiko quests on Galxe completion assistance.

Here is the picture of the day:

• A U.S. court did not recognize XRP as a security. The market went up.

• Elon Musk announced the creation of a new company, xAI, which will develop a variety of AI-based solutions. The staff of the organization includes people from OpenAI, DeepMind, and Microsoft.
  Bloomberg: The former Celsius' CEO, Alex Mashinsky, was arrested. The U.S. SEC filed suit against Mashinsky and bankrupt lender Celsius in federal court in Manhattan.

• Google has authorized NFT assets in the Play Store applications.

• In Q2 2023, the total DEX reached $189 billion. This is a 24% decrease from $249 billion in Q1.

• Polygon Labs has proposed rebranding the MATIC token to POL. The transition, according to the documents, will be within 4 years. This token will be integrated into absolutely all services in the ecosystem (including Proof-of-Stake, zkEVM, and Supernets). And will open up new revenue opportunities for validators: rewards for protocol maintenance, transaction fees, and additional bonuses.

• FTX's lawyers are asking the court to recover $323 million from FTX Europe's management.

• Chainalysis: Cryptocrime overall is down 65%.

Current events

• We warn readers that starting today, the US reporting season starts, which will strongly influence the markets (including crypto) until the Fed meeting at the end of July. In the coming days, major companies will be reporting their earnings. When giants report negatively, the market often reacts with strong volatility. The correlation of crypto with the NASDAQ is common knowledge, so you should remain cautious in trading until the end of July.

• Earlier, we talked about the activities of financial market supergiants, Blackrock and Fidelity, which are trying to launch ETFs. Yesterday, a new major player entered the crypto market: Vanguard Group, whose combined value exceeds 7 trillion dollars. But he used a different way to enter crypto: he bought a 10% stake in major bitcoin miner Riot Platforms. This kind of activity is extremely important to follow because the interest of companies of this scale in crypto seems to be becoming mainstream.

• The SEC is suing crypto-bankrupt Celsius, and former CEO Alex Mashinsky has already been arrested. It took the SEC a year to realize what happened, but finally the regulator decided to act.

The SEC pondered for a year…

The most important chart

The crypto market capitalization chart clearly demonstrates that the macro correction has been repeated almost perfectly and everything is ready for another growth cycle (which will start at the end of this year or the beginning of next year).

• In previous times, before the start of the Big Rally, we had quite noticeable corrections. And now there is still a danger of this repeating itself before the Big Rally.

• Looking at the chart it is also obvious that the strength of each new bull run is diminishing. You can no longer expect hundreds of Xs like before. But the fact remains that, judging by this chart, we are on the verge of a real uptrend.

💲 Ideas

[1] 🔔 Watching FTT maneuvers

We have recommended many times to pay attention to the dead token FTT, delivered to the market from the bankrupt FTX. It has a deceptive nature and is very good for speculators. As an example, it has already shown +99% growth in the last month.

As a good illustration of how it works, here's a recent story. Yesterday, the FTX withdrawal acceptance site opened. The token showed a growth of 15% at the moment. But today this site closed without explanation — the token has already lost 6%. We can assume with a high degree of probability that this site will be reopened again (and more than once), as well as that the announcement of the FTX 2.0 relaunch will be repeated many times. You'll agree that this dead token lives an interesting and fulfilling life.

Always remember the speculator's wisdom: if you are late for the long, don't miss the short!

[2] 🔔 Where's Kava going?

Kava is a decentralized blockchain that combines the speed and interoperability of Cosmos with the developer power of Ethereum. The company updated its network to version 14. Also, the announcement of the new US CPI followed: inflation fell to 3%.

If these two news items are positive, it could be a combo push for $KAVA to move upward.

The critical level is the $1.20 mark. From this level, tokens can start to rise. A quick rise along the route of $1.50-2.30. Then a correction to the level of $0.80 may follow, according to P_S_trade analysis.

[3] 🔔 Completing Taiko quests on Galxe

Taiko is a decentralized ZK-EVM and ZK-Rollup. With the project, dApps developers can easily deploy on L2, inheriting the security of Ethereum with lower fees than on L1. The project has raised $22 million in seed rounds from Sequoia China, Generative Ventures, OKX Ventures, KuCoin Ventures, and other funds.

Taiko developers have previously confirmed the token, and there is a high probability that the project will reward early users.

Completing quests on Galxe can earn points that may play a role in the future.

Instructions

• Go to Galxe;

• Connect your wallet and complete quests one by one;

• Answers to Taiko alpha-3 testnet questions and Type 1, 2, 3, and 4 ZK-EVMs: C, C, B, and B, C, C, B, B, respectively.

Superb early access to projects, tons of gems, and kudos. In a nutshell, all the best! See you tomorrow! 😎