🧐 Unlocking the secrets of the world of NFTs

Howdy. It’s your buidlbee crypto community team here! Ready to dive into the blockchain rollercoaster of unpredictable gains and heart-stopping dips? Buckle up your virtual seatbelts and hold onto your private keys, because we're about to embark on another wild ride together! Whether you're a hodler, a trader, or just someone who loves to see those green candles, remember: we're all in this decentralized boat together. So, let's keep those memes dank, the wallets secure, and our sense of humor intact!

And here is what we have for you today:

• Binance published a report on the state of the crypto industry in the 1st half of 2023;

• Latest news from the world of NFT;

• DOGE enters a new cycle: what does it mean?

• Testing the new LayerZero-based NFT bridge, Merkly.

Here are the major news for today:

• The Binance exchange has suspended some market order functions for all spot and margin pairs due to technical issues.

• FORGE, the cryptocurrency arm of Société Générale, one of France's largest commercial banks, received an AMF license on July 18. It can now provide custody services for digital assets, including buying/selling digital assets with legal tender, digital assets, and other digital assets.

• About 91% of the ARKM airdrop has been claimed (27,421,473 of 30,000,000 ARKM). About 36.6% were new addresses; about 25.75% were Arbitrum addresses, and 21.04% were Ampleforth Forth addresses. 93.5% of the addresses sold after being claimed, and only 0.1% of the addresses increased their inventory.

• The 24th quarterly BNB burn on the Binance exchange has been completed. 1,991,854.33 BNB were burned, representing approximately $480M.

Let's quickly go over the day's highlights:

• The $QUICK token of the decentralized exchange QuickSwap has completely collapsed. A new token has been listed on MEXC and Binance.

• Rumor: tonight, the US government sold 8200 BTC (~$244M).

• By the end of 2023, MetaMask plans to launch the Snaps protocol, which will allow wallet users to access new applications and cross-chain protocol communication (i.e., use Snaps to create specialized functions on top of MetaMask).

• Quam Securities has announced that it has become the first Hong Kong securities firm to launch a cryptocurrency exchange.

• Utopia Labs allows businesses to send USDC to any U.S. bank account without going through CEX.

🎩 Two central themes of the day

• The Federal Reserve (Fed) announced the launch of its own payment system, FedNow Service. According to the announcement, banks and lending institutions can already sign up and use the tool to instantly transfer customer funds. It's quite funny that after some state governors promised to ban CDBC in their territories, the regulator emphasized that FedNow Service is not a government digital currency (let's pretend to believe that).

• The second big news of the day: a group of House Republicans introduced a long-awaited bill that would define areas of responsibility in the crypto world for the Commodity Futures Trading Commission and the Securities and Exchange Commission once and for all. If this bill passes, the SEC's hegemony will be severely trimmed.

📜 Binance's report on the crypto world

Binance published a great semi-annual report on the state of the cryptocurrency industry. Here are the main talking points and numbers:

• The DeFi sector saw a 43% increase in users since the beginning of the year.

• The TVL (locked-in value) of liquid staking has increased by 460% in three months.

• The top 10 funds raised a total of $3.6B to fund the crypto industry.

• BTC trading volume increased by 185%, and network transactions grew by 58%.

• Stablecoin market capitalization fell by 7%, but USDT market share increased by 25.8%.

• NFTs are lagging behind the overall cryptocurrency market, and so far, this sector claims to be an outsider.

🖼 News from the world of NFT

A fresh review of Ethereum-based NFT trading platforms:

• Blur maintains its lead in trading volume with nearly $534 million in the last 30 days, followed by OpenSea and x2y2.

• With OpenSea attracting the most users and accounting for 59% of active NFT traders in the last 30 days.

By the way, OpenSea has launched "Deals". This feature allows you to trade and buy NFTs with attached WETH with other collectors. No more DMs and controversial OTCs — offer, view, and accept offers directly on OpenSea. You can create bundles of up to 30 NFTs.

Also look at the top NFT collections by market capitalization as of July 2023:

💲 Ideas

[1] 🔔 Collect bonuses from Bolide

Get a minimum of $50 (and a couple hundred at most) on an airdrop from Bolide project. Bolide.fi is a self-custody DeFi yield optimization platform with a simple UI and "deposit-n-go" philosophy.

Go to their site and do all the tasks listed on their page, starting with "Daily connect." Despite the large number of tasks, they are all simple; most of them are just to follow and join different social networks.

[2] 🔔 DOGE wants to break out of a two-year stint

Dogecoin ($DOGE) has been trading inside a triangle pattern since 2021. DOGE has been showing a bullish trend for the past few weeks. Therefore, FieryTrading analysts analyzed what could happen to Elon Musk's favorite token if it could get out of the two-year pattern.

Assuming that DOGE's bear market low is passed, it is likely that DOGE will only go up in the future.

Stop below the recent June lows and target near the $0.70 high.

*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] 🔔 LayerZero activity hunting

Merkly is an NFT bridge that supports multiple networks using LayerZero-based technology. Merkly allows you to make NFT breeches from the zkSync Era network to the Meter network, and this action will count as activity in LayerZero. However, the project is relatively new; this is something to keep in mind.

Expenses can be around ~ $2, depending on the network, so be careful. If you wish, you can use the Turbobridge feature. With this feature, you can send NFTs from one network to several other networks at once in one transaction.

Also, the project has a Gas Refuel function. When using it, keep an eye on the commission.

LayerZero is a Layer 0 protocol, or, in other words, an omnichain that allows for easy linking of different blockchains and thus pooling of liquidity between them.

The project has raised $135M from funds such as Sequoia, a16z, FTX, Coinbase, and many others. The project gives bonuses to participants for their activities. But since it is not known exactly what actions to perform, the higher the activity, the better.

Step-by-step guide:

• Go to the website and connect your wallet;

• Select the zkSync Era network;

• Mint NFT and bridge to the Meter network;

• Optionally, move NFT to other networks.

Remember to HODL tight, laugh at FUD like it's a dad joke, and keep those moon rockets ready for the next bull run. And if you ever feel down, just remember that Elon's tweets have the power to make even the mightiest of coins go haywire. ✨