It's too late to invest in crypto. Is it so?

Wagwan, frenz? It's Friday, which means it's time to relax (or trade hard, as you prefer). Just in case you decide to spend the next two days working, we have some interesting (and potentially profitable) analytics and tips. Here's what you'll find next:

• Ethereum strikes back, or how Ether is taking over the market;

• Is it not too late to invest in crypto?

• A good time to speculate on EOS;

• Fundrop by Mintfun;

• A bullish scenario for Stellar (XLM);

• Our new raffle!

Fast news (the main things in a day):

• U.S. retail sales in March declined 1% month-over-month (MoM) to $691.7 billion. This reading, after a 0.2% decline in February (revised from -0.4%), was worse than market expectations for a 0.4% decline.

• Singapore's cryptocurrency exchange Bitrue suffered a hacking attack that resulted in a loss of about $24.4 million in cryptocurrency.

• During the 23rd quarterly BNB token burn, 2,020,132.25 BNB have been removed (about 674 million USD worth).

• Relay V3 with bridge and swap solutions is now live.

• In his blog, Vitalik Buterin spoke out about ChatGPT 3.5. The Ethereum co-founder wrote that the AI can't give exact answers directly but seems to be succeeding in learning some libraries and APIs that he has never heard of before but that others are using. So lowering the barrier between amateurs and professionals is a positive thing.

• Binance replaces deposit addresses. Migration will be conducted periodically, and affected users will be notified via email.

• As a result of cheating, Walken has introduced an automatic blocking system that will limit the ability to use the marketplace to users who send more than 50 requests per minute.

• EOS EVM Mainnet Beta is now live.

🥇 Ethereum captures markets

During the last 24 hours, the crypto market got a new growth impulse, resulting in new highs for today: BTC — $31k and ETH — 2.1k. Only yesterday we wrote about Bitcoin's dominance, and in one day the situation has radically changed.

• Open interest in the Ethereum futures market rose 30% per day and outpaced Bitcoin in both volume and dominance. ETH grew by 6% in 24 hours, which for an altcoin with such a large capitalization is a very rapid rise. It looks like the market has finally calmed down and accepted the safety of the Shapella update.

• Santiment reports: after the price dominance of BTC at the beginning of the week over many assets, today it is the turn of altcoins to lead; for example, Ethereum finally crossed the $2.1k mark for the first time in 9 months. Among the top 100 altcoins, #ARB, #APT, #HEX, and #RPL are now the biggest beneficiaries of the new rally.

• Even Bloomberg was quick to write about Ethereum's coming revenge against BTC:

• Crypto-prophet Arthur Hayes tweeted today, "Let me introduce myself. My name is altcoin season" and attached a chart of the abnormally fast growing ETH.

🏎 Reasons for the new rally

• U.S. inflation slowed to 5%, and new CPI data was below expectations of 5.2%. This reinforced the belief that the Fed was nearing the end of its cycle of aggressive interest rate hikes.

• Growth triggers for the cryptocurrency were not only economic factors like the CPI and the weakening of the dollar (DXY), but also organically growing online activity. For example, 512,000 new addresses have joined the Bitcoin network in the last 3 weeks!

• The successful activation of the Shapella hard fork and the lack of a mass exodus of stakers has calmed Ethereum's second-largest market.

• Twitter's integration of cryptocurrency payments as part of its monetization strongly encourages mass adoption.

• Regulators, who were previously constantly attacking crypto, seem to have taken a pause — nothing negative has happened for more than a week, and many traders have breathed a sigh of relief. It looks like the crusade against crypto is over.

📨 And again about mass adoption

Why is it not too late to invest in crypto? Why is it hard to believe we are in the early stages of Bitcoin adoption?

We've noted the previously increasing growth rate of new active Bitcoin addresses. But even that current rate of audience growth is roughly proportional to what the Internet had in 1994.

Crypto now has about 200 million online users, or about 2.5 percent of the world's population. It is believed that the peak of technology development is at an adoption rate of 34% or more. The Internet, for example, now has an adoption rate of 78%.

That's why Bitcoin is in the infancy of growth; these are the earliest stages of adoption. You will see the real price of BTC only in 3-5 years when the penetration rate reaches 34%. That's why long-term investing right now in crypto is profitable and not too late.

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! ☝

👉 Opportunities 

[1] 🔔 A good time to speculate on EOS

The beta version of the main EOS EVM network has been launched. The launch of the EVM virtual machine is a big step forward for EOS; it took a year of work to develop this project. EOS is in the final stages, where the project is almost ready and is undergoing the most recent testing. EOS spoke to its users with these words:

Obviously, when EVM launches in production in a couple of weeks, the pump will be inevitable. So at the beginning of this alt-season, you can prepare in advance for speculation based on this local event.

[2] 🔔 Fundrop by Mintfun

Mint.fun is a launchpad for NFT collections. A year ago, the project’s team raised $19.5 million in investments from Variant, Sam Altman, and Dragonfly.

On the platform is launched an event, in which you can mint a free NFT !fundrop and get a chance to win a drop. It is better to mint on those wallets from which you mint a lot, thereby getting more points.

The first drop will be tomorrow (April 15, valid until May 15). The more you have points, the more rare the reward will be. Most likely, it will be a mystery box or some NFTs.

How to participate:

• Subscribe to Twitter and retweet the pinned post;

• Go to the site and connect a wallet and mint pass in the Ethereum network (the price of gas is about $6);

• Under "Minting Now" daily mint NFTs;

• Waiting for the distribution of prizes.

Points are awarded depending on your NFT activity on Ethereum - the more you mint, the more points you will get.

[3] 🔔 Look closely at Stellar (XLM)

Stellar (XLM) is an open-source, decentralized payment network. It uses blockchain technology to allow users to transfer funds quickly and at a low cost.

At the beginning of the year, XLM turned around along with the entire cryptocurrency market. XLM recently managed to break above $0.1, and after the recent high, the token value is in a state of correction.

This period could be a good opportunity for bulls, according to Mihai Iacob’s technical analysis. Buying around $0.1 has a 30% upside potential. However, a drop below $0.1 cancels this bullish scenario.

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

Do you like the upgraded EOS❓ 

📝 Opinion

Klaytn: Massive foundation treasuries — burn or get burnt

The recent controversy surrounding the Arbitrum Foundation's AIP-1 proposal all but proves that it’s time for blockchain foundations to abandon the model of building a massive treasury to finance operations and growth.

While this worked well during the bull run, it has since shown that it is not a sustainable model. Depressed token prices mean having to unload multiples more tokens to provide the same amount of funding, thereby requiring funded projects to return multiples more value in order to achieve a net positive effect on the blockchain’s ecosystem. This naturally leads to a higher rate of failed investments, which in turn creates distrust between the blockchain foundation and its community. After all, who else would they burn at the stake?

The era of massive blockchain foundation treasuries is over. Web3 communities no longer want to deal with the constant worry of huge token dumps or the lack of ability to influence governance decisions or grant disbursements. Blockchain foundations need to transition to a more Web3-native model—one rooted in sustainable tokenomics, trustlessness, and decentralization.

For us at the Klaytn Foundation, this meant burning almost the entirety of our reserves—approximately 5.28 billion $KLAY—and shifting to a new community fund that is fueled by block rewards and disbursed through on-chain voting. Additionally, burn mechanisms will be put in place, and priority support given to DApps that use $KLAY to drive utility and demand, with the goal of achieving deflationary tokenomics.

It is clear that massive treasuries and reserves need to go in order for Web3 to move forward in a more sustainable, verifiable, and collective manner—and projects that do not adapt risk getting left behind.

We wish you all a successful Friday and a good weekend! See you guys on Monday!

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