🤡 A new bullish memecoin cycle?

Hello everyone. The buidlbee team is back, and we're about to take you on an exhilarating crypto journey. Get ready to buckle up and brace yourselves for what's coming next. Here's a sneak peek into the exciting adventures that await:

• Who benefited from the confrontation between the regulator and crypto in the U.S.?

• Altseason is waking up? What are the new specifics of this new bullish cycle?

• Technical analysis: BNB's breakthrough from the pennant.

• Maverick's airdrop ahead of Binance listing.

Stay ahead of the game and keep up with the dynamic world of crypto. Here's a quick rundown of the key events that unfolded in the past 24 hours:

• The Swiss authorities froze Do Kwon's local assets

• FTX was able to recover $7B of client’s funds

• OKX exchange plans to suspend services for Japanese residents

• Ethereum Foundation launches the first DevConnect Istanbul Scholars Program

• Thank you, Bedrock? The number of Optimism transactions increased by 67%

• Six engineers presented a plan to revive the Terra Classic ecosystem

• A U.S. court dismisses Binance's defamation suit against the SEC

• Binance will list Maverick Protocol (MAV)

• Robinhood plans to cut 7% of its staff

Who benefited from the U.S. regulators' confrontation with crypto?

The short answer is that other, more progressive governments and jurisdictions have benefited. Given the cross-border nature of crypto, capital flows dynamically and freely across borders in this market.

Japan may benefit from regulators putting the brakes on cryptocurrency in the U.S. Given the recent loosening of regulations, Japan is really trying to gain as much as possible from this situation. There are two aspects to these innovations:

• Japan's national tax agency has amended tax rules so that owning a virtual currency may not require you to pay income tax.

• Japan's updated Payment Services Law went into effect today, allowing local firms to now legally issue private stablecoins if they have the underlying assets that support their coins.

The Arab Emirates could also become a major hub for HQ exchanges like Binance and Coinbase. Dubai is ready to provide all the facilities for the legal operation of the first and second exchanges in the world. All preparatory work for the relocation of the central offices is scheduled to be completed in 2023.

💲 Ideas

[1] 🔔 What's going on with altcoins?

We've been writing a lot about Bitcoin lately, which makes one wonder if there is anything other than Bitcoin and Ethereum in the market today.

Altcoin's season is showing low value, though some growth is noticeable. In addition, Bitcoin's dominance has peaked over the past year. Right now, the indicator is fluctuating between a value of 10 and 12, which is quite low. Let's try to understand: does it mean that we can forget about altcoins for a long time?

At the moment, there are three conditional blacklists for altcoins to avoid because of the uncertainty of their fate:

• Old big altcoins from the recent SEC list, such as Cardano (ADA), Polygon (MATIC), and Solana (SOL). Most of these coins are on PoS-type blockchains and are now being delisted en masse by major exchanges, negatively affecting their capitalization.

• Coins related to privacy were hunted by governments as early as last year. Zcash, Monero, and Dash are examples of such assets. This type of asset is also delisting and actively losing its capitalization.

• Another very volatile and questionable market is meme coins, which are dangerous for the long term. Recent events show that this market is very manipulable; a lot of whales are actively working in it, and the end result is unpredictable.

If you consistently apply all these rejection filters, then there are not many worthy altcoins to choose from. As a rule, these will be new-generation coins, which just haven't managed to make enemies on the market or create history yet. SUI and Arbitrum (ARB), the stars of early 2023, are shining examples of this new wave.

In conclusion, we add one more argument. Analysts at K33 Research modeled various baskets of popular altcoins. Their fresh analysis shows that all of these options lost out to just holding Bitcoin at the end of the first half of the year. The analysis shows that the "buy and hold only Bitcoin" formula outperforms altcoins in the long run. So altcoins only made sense over short intervals for jewel-like speculation on some special events.

[2] 🔔 BNB possible breakout

According to WalterMoon's technical analysis, the token has undergone many changes recently:

— first, it bounced up from the support zone and moved up to the resistance level;

— then rebounded and even dropped below the support level;

— then began to rise near the support line and then reached the resistance level again;

— later, it declined and reached a new support line.

Recently, however, the coin bounced upward, thereby exiting the pennant pattern (a period of consolidation is followed by a breakout), and according to the expert, it continues to grow. The minimum target is $243.5.

*Any technical analysis in the long run cannot accurately predict the movement because now is a very tough market and the news can swing currencies in all directions

[3] 🔔 Maverick airdrop

As we mentioned above, Binance will list the token on its platform on June 28. Earlier, the project team announced an airdrop and rewards for liquidity providers, which will give away 617M tokens.

Criteria for participation in the Maverick Ecosystem Incentive Program:

• Liquidity Providers;

• Owners of the Maverick Warrior role on Discord;

• Voting on Snapshot (for NFT MAVA holders);

• Trading volumes on the site via the UI;

• Maverick MAVA NFT holds. Four categories for different events.

There is only one activity — providing liquidity on the site and interacting with the project. Good luck.

It's time to say goodbye for now. Until the next edition, keep embracing the world of digital assets and get ready for more thrilling adventures. See you soon.

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