⚔ Stablecoin slayer on its way?

Hey there, crypto fam! Ready to dive into another edition of our newsletter and ride the crypto waves like the fearless pirates of the blockchain seas? 🏴‍☠️🚀 Grab your virtual pickaxes and meme shields – we're exploring the treasure troves of crypto knowledge and hunting down those elusive moonshots! It’s your buidlbee team here. Welcome aboard, fellow crypto adventurers – together, we'll navigate the blockchain seas like pros and conquer the FUD monsters with a chuckle! 🌊😄

This is what awaits you on our battleship:

• The latest news about Curve;

• Reasons to keep an eye on Ethena;

• XRP action plan for the next bull run (technical analysis*);

• How to get a spot in the new game from Yuga Labs.

Here are the day's highlights:

• After PayPal launched its own PYUSD stablecoin, dozens of fake tokens appeared online.

• The KuCoin exchange has once again tightened the rules of user verification.

• Tether CTO Paolo Ardoyno wrote a few words about the recent USDT scam that "allegedly created difficulties for some counterparties in executing USDT redemptions in U.S. dollars."

• Bloomberg: Cathie Wood thinks the SEC may approve multiple-spot bitcoin ETFs at the same time.

• Huobi has become the first exchange in the industry to support the launch of PayPal's stablecoin, PYUSD, and has granted the PYUSD/USDT trading pair a permanent zero commission.

💸 The bankers seem to be regretting something

The Economist, known for its fortune-telling covers, has come out with a pretty straightforward statement this time (without the usual riddles and charades):

🤓 Curve smart trade

Early last week, we signaled $CRV with a recovery prediction. Since then, the token has recovered 5%, and there's a good chance the positive momentum will accelerate:

• All the FUD around Curve is slowly subsiding.

• The hacker responded to the call to return what was stolen; the 💸 is being returned to the ecosystem (about 80% returned).

• Many big players and foundations supported the project in a difficult moment.

• In addition, according to Andrew Kang, Curve is preparing to enter the Forex market in the second half of the year, which will be a great reason for rapid growth.

This case shows how important it is to soberly assess the real risks. It gives an option to capitalize on the crowd panic by buying a promising asset on DIP.

💲 Ideas

[1] 🔔 New market players — USDe and SNX

Why is it a good idea to keep an eye on the Ethena project, which recently raised $6.5 million for development? The short answer is that a new leader can suddenly appear in a particular market segment (the new project calls it Internet Bonds).

Let's try to explain the logic: each big stablecoin has its own exchange patrons:

• USDT = Bitfinex.

• USDC = Coinbase.

• BUSD = Binance.

• Ethena's new stablecoin, USDe, is getting patronage from the Synthetix exchange (SNX). In addition, the new USDe is a direct competitor for DAI. Read more about it right here.

SNX now generates more volume than rival GMX and already has more than 70% of the decentralized derivatives market. At the same time, 95% of the revenue goes to SNX's holdings, compared to 30% for GMX. This new stablecoin was created according to the design of the legendary Arthur Hayes. In other words, New King has arrived in decentralized derivatives.

What can you bet on if you believe in the emergence of a new leader in this market? As usual, it is easier to make a bet through an exchange token — in our case, it is a token from Ethena — SNX. Let's remember that the one who guesses the new trend at the very start will get the most.

[2] 🔔 To the bulls on $XRP

With the XRP lawsuit behind it, the token has lost about half of the gains it made shortly after the SEC news. Nevertheless, FieryTrading analysts are bullish on XRP in the long term. As shown on the chart, XRP appears to be trading in a parallel channel. The top two resistance lines are direct copies of the lower support line.

They think it is worth waiting for XRP to fall to the lower support line. The target for the next bull run is $7, with a stop just below the channel support.

*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] 🔔 Getting on the allowlist in Wreck League by Yuga Labs

Animoca Brands and nWayGames, in association with Yuga Labs, have unveiled a new game called Wreck League, a multiplayer Web3 fighting game. In the game, participants have the ability to create, own, and fight swords in real time. In addition, Wreck League features licensed characters from Yuga Labs, such as BAYC (The Bored Ape Yacht Club is a collection of 10,000 unique Bored Ape NFTs). To verify your account, you can get it on any OTC by putting in a few dollars.

How to get on the list for this project:

1. Go to the site;

2. Connect your wallet;

3. Press Enter Allowlist;

4. Pass verification.

So, fellow crypto adventurers! It's time to wrap up this chapter with a virtual high-five! 🚀👋 Keep your wallets secure and your crypto dreams big, because the future is brighter than a thousand NFTs! Stay curious, stay kind, and may your altcoins always find the moonlight. To infinity and blockchain brilliance! ✨💰