👨‍🍳 What is spot ETF and how to cook it

Howdy, crypto broz’n’sis! It's your favorite buidlbee team on the air. Ready to dive into another edition of our newsletter and decode the latest crypto conspiracies? 🕵️‍♂️🚀 Grab your virtual magnifying glasses and let Sherlock our Holmes work his waythrough the blockchain mysteries, one meme at a time! 🔍😂 Whether you're a hodler, a trader, or just here for the epic tales of crypto chaos, we've got your back in this digital jungle! So buckle up, fellow cryptonauts, and let's navigate the wild world of altcoins, moonshots, and Elon's tweets together!

Here’s today's list:

• Let's talk about the important matters: spot ETFs and the new wave of stablecoins;

• Studying a non-standard short indicator;

• Should Coin98 ($C98) be looked at more closely - technical analysis*;

• How to obtain a rare NFT from Polyhedra.

But before getting to the main point, let's go over the top stories of the day:

• The SEC recognizes Ripple's victory and will not appeal.

• Leonardo da Vinci's $450 million painting Salvator Mundi will become an NFT.

• Coinbase: 19% of New Yorkers own cryptocurrencies.

• Microsoft and Aptos Labs ($APT) announced their collaboration on new blockchain AI-based solutions.

• PancakeSwap DEX is being deployed on Arbitrum as part of the expansion.

• Starting August, 29 Bitstamp is suspending trading in the US: AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL.

👉 On the really important stuff

Galaxy CEO Mike Novogratz reported today that his insiders at BlackRock and Invesco have assured him in private conversations that approval of a spot Bitcoin ETF is not "if it gets approved," but rather "when it gets approved." According to Michael Novogratz, the timeline for ETF approval is "about six months," according to reports from his private contacts.

In other words, he says it's a political issue and is favorably decided at the very top of the U.S. elite. A strange mug-signal from Joe Biden that we wrote about recently gives an accurate time reference: 2

To give you a better understanding of what we are talking about and why it is so important, let's give you some numbers. In the table below, you can see that at the moment, 9 companies are waiting for approval of applications for spot Bitcoin ETF; in total, these companies manage assets worth $15.2 trillion:

According to experts' calculations, the flow of even 1% of this amount into the crypto world will lead to the growth of BTC to at least $100k. Never in the history of crypto have such large financial giants tried to get involved in the game as they did this time.

🍾 Stablecoins are gaining popularity

After a wave of new stablecoins came to the market (we have talked about three new ones in the last two days alone), the US Federal Reserve announced that it will regulate banks in their operations with stablecoins.

So far, the US Fed is concerned about the growing popularity of stablecoins, and meanwhile, the banking crisis continues. Last week another US bank collapsed, and on Monday Moody's downgraded 10 banks by one notch and placed six banking giants, including Bank of New York Mellon, US Bancorp, State Street, and Truist Financial, on review for possible downgrades due to systemic risks.

💲 Ideas

[1] 🔔 Indicator for those who like to short

The crypto market is very diverse, and that's what makes it interesting. Yesterday we wrote about a psychopathic whale who sent his entire portfolio of about $5 million to a token burning address.

Today we will talk about another whale who shows stable negative yields but does not give up. Each of his failures seems to excite him even more. Today we will use him as a unique short indicator for fun and profit.

So far, this whale has already lost $2.3 mln trading shitcoins. But there is no way he can stop. He caught the attention of the community last week when he bought BALD for 1102 ETH ($2 mln), and a few days later he sold it for 189 ETH ($346,000) — a net loss of 912 ETH ($1.67 mln). Prior to this trade, he had lost $707,000 on the PEPE trade.

This time, this trader bought TOSHI for 190 ETH ($348,000). Is it probably time to short this asset?

[2] 🔔 Is there a big Coin98 pump ahead?

Coin98 has been in a prolonged downtrend for a long time. Now the token is trying to break the trend line.

According to the P_S_trade technical analysis, it is worth paying attention to the level of $0.24 - this is the first critical level, after which C98 may go into correction. And also on the liquidity zone $0.29-0.33, where there may be increased activity of those who drain coins.

And, in case of demand can pump, the $0.41 level or even higher may not be the limit.

P. S.: Safe purchases are not made during the C98 moves but in accumulation zones, such as $0.152-0.174.

*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] 🔔 Pandra King by Polyhedra

The project recently updated its campaign on Galxe, and now the rare Pandra King NFT is available for claim and bridge of the default Pandras. These NFTs are divided into 4 types of rarity:

1. Uncommon - gives out for 10/14 bridges;

2. Rare - for 15/19 bridges;

3. Epic - for 20/24 bridges;

4. Legendary - for 25+ bridges.

Most likely it is Pandra King and its rarity that will play a big role in getting rewards in the future. And it's worth remembering that the Polyhedra project has raised $25M, and the majority of transactions go through LayerZero, and this whole event in itself is a good wallet warm-up.

On top of that, Polyhedra has launched an SBT NFT in honor of their partner SecondLive's two-year anniversary. This NFT is not for purchase, but it will give some perks in the future.

Steps to take:

• Go to this website and connect wallet;

• Mint each of the pandras 6 times in the networks: BNB, Polygon, CORE, and Celo;

• Next, bridge each of the 6 NFTs individually on different networks, repeat with all pandras;

• After all bridges collect points on Galxe: Celo, BSC, Mantle;

• Go here and mint SBT NFT. If possible - in all networks.

After a while, it will be possible to mint Pandrа King here, but for now, there’s only Coming Soon message.

We hope, we did a great job and helped you! So, bye, for now, crypto crew! And remember: in the world of crypto, even the moon isn't the limit! 🌕🪐 Stay curious, stay cryptic, and may your altcoins forever find the light. Until our next rendezvous, keep rocking those diamond hands! 💎👋