🛫 Unpacking a new crypto project from OpenAI's CEO

Happy start to a productive new week, dear crypto fam! The buidlbee team is here with a portion of interesting news, ideas, and analysis of important market events. Let's not drag it out. Here is the content of today's letter:

• New BTC and ETH records;

• Crypto project from the founder of OpenAI. What is known so far?

• Meme coins - and new pumps again;

• Has PEPE reached the bottom (technical analysis)?

• Working on the Entangle Protocol testnet while waiting for tokens to roll out.

Now for a quick recap of the main events and on to the sweetest part:

1. The Securities and Exchange Commission (SEC) filed an amendment to its claims against LBRY in the District Court of New Hampshire, reducing the fine from $22 million to $111k.

2. Ethereum's developers fixed the previously discovered anomaly in the Beacon Chain by releasing a patch. It was deployed in Ethereum Prysm and Teku clients.

3. The White House believes that cyberattacks and crypto theft remain key sources of income for the DPRK regime. The Defense Ministry said that at least half of the country's missile program is financed through this channel.

4. The number of addresses with 1 BTC in the account exceeded 1 million.

5. The phishing site HitBTC scammed users out of more than $15 million.

🎊 Ethereum surprises

Stacking $ETH has now reached a historical peak annual return of 8.6%.

Despite mixed opinions about the Shanghai Update and ETH2.0 contracts, the latest data is pleasantly surprising: $3.4 million $ETH was deposited and $2.67 million was withdrawn, resulting in a net pledge of $734.92 thousand $ETH, which equals $1.4 billion. In other words, all fears of a massive withdrawal of ETH after the unlock proved false.

🎇 Bitcoin surprises

Bitcoin became one of the most popular blockchains by trading volumes with NFT, yielding only to Ethereum. And this is the first time that BTC has been included in such a strange rating. It's all due to the Ordinals protocol, which allows for the creation of an analogous set of unique tokens in the BTC network.

Moreover, Bitcoin overtook the U.S. dollar in Bloomberg's ranking of investors' preferred assets in the hypothetical scenario of a U.S. default this summer, making it one of the top 3 reserve assets.

⁉ What's known about Worldcoin?

The head and co-founder of OpenAI, which developed ChatGPT and DALL-E, is negotiating a $100 million investment for his new crypto startup, Worldcoin, the Financial Times has found out. The startup had previously unveiled a retinal scanning device that would allow it to verify the owners of the created cryptocurrency. Details about the new crypto project are still unknown, but it is known that it will be launched in the coming weeks.

For quite some time, there has been a Worldcoin altcoin of the same name, which has already jumped in price by 90% on this news. It most likely has nothing to do with the startup announced by the OpenAI co-founder.

💲 Ideas

[1] 🔔 Meme conspiracy

It's just like last time! First, the mysterious SmartMoney.eth, which previously made $2.2 million on PEPE, bought $2.1 million worth of meme coin again yesterday, and then Elon Musk made a PEPE pump.

Following the analogy from last time, SmartMoney.eth may start selling out its $PEPE soon. It is also interesting that an as yet unidentified buyer bought 3.26 trillion #LADYS today. If you think along the lines of PEPE, there seems to be a new pump-and-dump cycle coming.

Use this information at your own risk.

[2] 🔔 Bulls awaiting PEPE’s “explosion”

After a massive drop and a corresponding pullback from the 100 area (zeros omitted for convenience), the $PEPE meme coin has again found resistance near 210. According to Fiery Trading's analysis, this could mean the bottom has been reached, at least in the short term. Potentially, $PEPE will form a reverse head-and-shoulders pattern, which is a bullish reversal pattern.

They will wait for a breakout around 210 and add more coins to their portfolios in the yellow area.

If the PEPE rises above 180 today, it could be seen by aggressive bulls as a confirmation of a reversal.

[3] 🔔 Entangle Protocol testnet is preparing the extras

Entangle Protocol is an omnichannel liquidity protocol based on Layer Zero technology. It already has 43k followers on Twitter and is gaining momentum. The Entangle Protocol’s team has launched a testnet and promised benefits for the most active Whitelist testers. The project already has a confirmed token, and in its tokenomics, it has allocated 45.6% for community and infrastructure.

What to do?

• Get into WL via link (complete all stages);

• Connect the testnets according to this guide;

• Test Synthetic Vaults and Stake;

• Repeat the steps a few times.

Look up to heaven tonight. We wish you more bitcoins than stars in the sky! Good luck, and see you tomorrow 💎

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