What rocks the market? Top news and actual crypto signals

Hello again, crypto fam! It’s buidlbee team here. Today we will take a deep dive into:

• What is happening with bitcoin right now and its further possible movement.

• What is ApeCoin (APE), and what will be its price on March 17?

• We'll also take a look at the ChainGPT project and see whether it is possible to make money on it.

• You will find out potentially profitable signals and tips, plus a valuable bonus (it’s waiting for you at the bottom).

What rocks the market? Reasons for the rise yesterday that triggered the bull run

Hello friends! Yesterday was an extraordinary day; the price of Bitcoin rapidly overcame the level of $26k, which caused a pleasant excitement in the market. Analysts have already estimated that it was the highest Bitcoin price in the last 273 days. But what were the reasons for this incredible growth?

Since positive events prevailed yesterday, let's start the review with them:

• The main market driver was macroeconomics again: the U.S. inflation rate (CPI) in February went up by 6% versus the same month a year ago and declined by 0.4% versus 6.4% in January. The pace of energy price inflation slowed last month as well, to 5.2% from 8.7% in January, including gasoline, which was down 2% from 1.5% the month before.

• Besides falling inflation, the Fed also launched a new $25 billion funding mechanism for banks, which is actually a hidden emission of money that partly offsets the negative impact of the rate hike. Against the background of CPI data and the stabilization of the banking system, markets are now very optimistic — they expect the U.S. Federal Reserve's interest rate to drop from July this year, which further stimulates cryptocurrency price growth.

• In addition, yesterday the U.S. stock exchange CME announced the launch of an interesting new instrument — event-driven Bitcoin futures contracts. It is an ideal tool for institutional investors operating with large sums of money.

  What is it? CME event-driven contracts are denominated in dollars and have a daily expiration time. As Tim McCourt, head of equity and currency products at CME Group, pointed out, the new product will give the platform's large customers "a cheaper way to trade bitcoins."

• The latest dress rehearsal of the upcoming Ethereum Shanghai update, known as "Shapella," took place on the Goerli test network on Tuesday. The test simulated a mass withdrawal of funds from the Etherum account. This important event for the Ethereum world will happen in early April.

Despite the overall positive sentiment in the market, there were negative events yesterday:

• The U.S. authorities banned the $1 billion deal between Voyager and Binance․US until major legal objections are resolved. The deal could have potentially stabilized the market and also helped Binance more fundamentally enter the U.S. market. Previously, the deal had already been approved by the SEC, but now it has been blocked again.

• Halborn identified several critical vulnerabilities that could be used to attack some cryptocurrencies, including Litecoin and Zcash, putting more than $25 billion worth of digital assets at risk. The vulnerabilities have been codenamed Rab13s. Working exploits to exploit these vulnerabilities already exist. So far, only Dogecoin has had these vulnerabilities fully patched, requiring an update to the latest version (1.14.6) of the node's code.

👉 Opportunities

[1] 🔔 Buying a #TrueFi ($TRU) control token from the TrueUSD stablecoin

Earlier on the website, we wrote that, by some indicators, TrueUSD is now Binance's favorite stablecoin, which comes to replace BUSD, which was previously hit by the regulator. And now we know that Binance has canceled commissions on transactions in pairs with TUSD. There is more and more confirmation that TrueUSD is gradually becoming a preferred stablecoin on the largest crypto exchange in the world.

$TRU (TrustToken, aka Archblock) is the Ethereum token that powers TrueFi, a decentralized financial protocol, one of whose products is stablecoin TrueUSD. Investing in $TRU is an interesting way to take advantage of the growing popularity of TUSD (this is not financial advice), and as you can already see in the chart below, the market started doing this exactly one month ago when the problems with BUSD began and Binance first started forcing TUSD.

[2] 🔔 40.6 million APE to be unlocked. What's going to happen with the price?

If you subscribe to our newsletter, you probably know that 4.06% of ApeCoin tokens (APE) will be unlocked on March 17, which is 40,601,326 coins.

ApeCoin is a cryptocurrency launched by Yuga Labs and is intended to support the development of Web3. APE is an ERC-20 token built on Ethereum and used within the APE ecosystem.

Currently, most altcoins are growing in price amid the Bitcoin breakout, but APE lost 8.64% of its value during the day and stands at $4.24.

At the last token unlock, which took place on February 16, 7.3 million APE coins (0.7% of the total) were released to the market, led to APE falling in price by 10%. The upcoming unlocking is much more significant and will probably have a much bigger impact on the price of APE.

Want to know how you can make money from token unlocks? We will give a practical guidebook, "How to make money from token unlocks," to everyone who invites 1 friend to subscribe to the buidlbee newsletter!

[3] 🔔 What is ChainGPT, and is this new project trustworthy?

On March 20, the first public sale of the new token ChainGPT (CGPT) will take place via Seedify. At $0.005, 100 million tokens will be offered for sale. The goal is to raise $500,000.

Despite the consonant name, the new project has nothing to do with ChatGPT. ChainGPT is an advanced AI model designed for blockchain and crypto-related topics.

You can use ChainGPT for smart contract development, risk management, market analysis, advanced trading with AI, blockchain analytics, code explanation and recommendations, AI auditing, an automated news source, and much more (here are the details).

Given the still-hot trend for anything related to artificial intelligence (AI), ChainGPT could be seen as an interesting project for early investment.

Historically, presales and early sales have been the most profitable entry points for crypto investments.

In addition, the developers plan to release their own blockchain in the second quarter, which is a next-generation virtual machine that offers a unique combination of EVM compatibility and artificial intelligence inference in the chain to develop decentralized AI applications on blockchain.

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

What will be the bitcoin price on March 16 at 12:00 UTC❓

The prize will go to the person who comes closest to the real figure. We'll choose the winner tomorrow in our next newsletter. Good luck!

And thank you for reading the buidlbee newsletter. We wish you only profits and no losses. See you tomorrow!

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