🗝 Major weekly events of the crypto market (August 7-14)

Hey there, crypto warriors! 🐱🚀 Ready to rock the cryptoverse and make those gems rain? It’s your buidlbee team here! Let's show those bears who’s boss and ride the green candle express! 🌕💰

Remember, it's not just about the Lambos and moon trips – it's about the tech, the community, and the crazy adventure that is crypto! 🔥🚀 Stay bullish, stay groovy, and let's conquer the world together!

In today's letter, you'll find interesting stuff like:

• Why are many US presidential candidates promoting cryptocurrency?

• What are the dangers of copytrading?

• List of major crypto events for August 7-14;

• Tokens launch and unlock;

• Cryptocurrency and NFT airdrops and freebies.

Here's the main news:

• Tech giant PayPal is launching its own PayPal USD (PYUSD) stablecoin for transfers and payments. The issuing company will be Paxos Trust Co. (USDP).

• YGG was as high as $0.99 on the spot, up more than 300% after the contract launched on Binance.

• PeckShieldAlert: The Curve Reentrancy exploit resulted in $73.5M worth of Ethereum being stolen.

• Elon Musk has assured that X will never have its own cryptocurrency.

‼ The BTC generation is getting closer to dominance

Grayscale conducted a curious study answering the question, "Why are some US presidential candidates for 2024 promoting cryptocurrency". Last week, we even noticed BTC maxi on the campaign symbols of the current US President.

It turns out that Generation Z and Millennials will make up 44% of voters in the upcoming 2024 election. Almost all of them are involved with crypto in some way or another. Grayscale concludes that this is the usual political populism. In the table below, you can explore the main candidates' attitudes towards cryptocurrencies (BTC and CBDC). At least three of the seven candidates explicitly promise to legalize crypto if they come to office.

Meanwhile, these are just the first signals of younger generations approaching social dominance, so crypto will inevitably become mainstream in the future. The biological factor is guaranteed to lead crypto to mass adoption.

🤷‍♂️ Stranger things

• A recent case has shown that copytrading can be dangerous. All lovers of easy 💸 should think about it. Trader Hanwe Chang noticed that his bid strategy on Blur was being repeated by a large wallet (working in copytrading mode). As a result, the trader created an artificial situation where the bot executed trades at a loss, while the original trader managed to earn 800 ETH by manipulating the bot that was mindlessly copying him.
  
  By the way, it's still too early to rejoice with the human trader; there has been an extensive discussion in the community about how legitimate it is to intentionally create such traps for others.

• The second case causes even more discussion; it seems that one of the famous traders ended his career with psychosis. Last year, trader nd4.eth was at the top of the leaderboard on Binance — he made over $20 million on GMT longs — and then deleted his account.

• Last week, this user sent 2,500 ETH ($4.5 million) to the network's unmonitored zero address (which is a token-burning address). After a pause, he also sent the rest of his portfolio there: 1.5 #ETH, 34.9 #GMX, and 600 #GNS. The reasons for this action are still unclear; all the funds are gone forever. The sequence of these actions confirms that this is not an accidental mistake but a deliberate move. The community is trying to understand the reasons for such an act.

🦎 Useful link

CoinGecko has launched a useful service. Here they have neatly collected all altcoins previously included in the US SEC securities list. Previously, the SEC mentioned them in different documents; now they are collected all together. The service also promises to supplement the list with new SEC threats (so it's worth bookmarking the service).

There are now 48 tokens on the list, including: #BNB, #ADA, #SOL, #SOL, #TRX, #MATIC, #TON, #BUSD, #ATOM, #FIL, #ICP, etc. The service allows you to quickly monitor risks if you are a US citizen or have altcoins in your portfolio.

⚓ Major crypto events (August 7-14)

August 7

• Metaverser launches a new feature called Game Maker.

• Gains Network to release a new software update, v6.4.

August 8

• PAAL AI will launch a new version of AutoPaal (v0.1).

• Forta will launch subscription fees.

• Ultra Arena's public launch.

August 9

• Kleros v2 testnet launch.

August 10

• DYdX to launch testnet #2.

August 14

• Offshift v2.0 CLI testnet release.

🔓 Tokens unlock

August 12

• Aptos (APT): 13M tokens will be unlocked, or 7% of the circulating supply.

• ImmutableX (IMX): 18.08M tokens will be unlocked, or 1.67% of the circulating supply.

August 14

• The Sandbox (SAND): 332M tokens will be unlocked, or 16.6% of the circulating supply.

🏁 Token launchpads

August 7

• ScapesMania (MANIA) is an ecosystem of games made by the BNB Grant Winning Team. The presale is now live.

August 8

• Octavia (VIA) is a Web3 AI crypto assistant powered by the VIA token. The token sale will take place on GAGARIN Launchpad.

🆓 Crypto and NFT freebies

August 7

• Premia snapshot for $PREMIA stakers will occur. 2M tokens will be immediately distributed to stakers based on their pro-rata influence across all chains as part of the AirDrip Initiative.

• Hydra airdrop on Coindar.

• PEGO Network giveaway.

August 9

• World Mobile Token (WMT) snapshot.

August 11

• Sable Zealy Campaign snapshot.

Hey there, fellow crypto enthusiasts! As we say farewell for now, remember to HODL on to those dreams and keep soaring to the moon! 🚀🌕 We may part ways for a moment, but the crypto universe is forever, and we'll meet again on the blockchain frontier tomorrow! 🔗🌌 Cheers to the crypto camaraderie!