🛰☄ Weekly Insights from the Crypto Cosmos

The most captivating news, trends, and updates that are shaping the cryptocurrency universe.

Author

buidlbee make it with crypto
December 20, 2023

What's up, crypto enthusiasts! It's your buidlbee team here, your #1 go-to source for the latest and most insightful updates from the dynamic realm of web3. The blockchain buzz never sleeps, and neither do we. In this week's newsletter, we've curated a selection of the most compelling news, trends, and developments that are shaping the crypto landscape.  So, buckle up as we dive in!  Here's a sneak peek of what's in store for you today:

  • Ledger's commitment to users after the Connect Kit exploit;

  • Some views on Bitcoin's rollercoaster ride: will it be a big red "candle" down, or the launch of a BTC Spot ETF define its path up? 

  • Solana's soaring success. Find out what's driving its impressive performance;

  • Key market highlights for December 20 – 27). Stay informed about upcoming listings, giveaways, testnet launches, and hackathons in the crypto space; 

  • And some interesting ideas to explore.

🐱‍💻 Ledger to refund victims of Connect Kit exploit

Cold wallet manufacturer Ledger has promised to reimburse users affected by the Connect Kit library compromise by the end of February 2024. On December 14, SushiSwap representatives reported the Connect Kit library compromise. It is known that approximately $600K worth of cryptocurrencies in equivalent were stolen from users blind signing on EVM DApps.

Furthermore, by June 2024 users will no longer be able to Blind Sign with Ledger devices.

🥇 Bitcoin at $44K. What's next?

Bitcoin updated its November record. According to CoinMarketCap, the token then fluctuated within $38K. As of December 20, BTC has exceeded $ 44K. 

At the same time, in November 2022 Bitcoin was worth $16K, and the all-time high reached $67K in November 2021.

As usual, the opinions of bulls and bears were divided. Opponents of digital gold are looking at a rising greed index and are expecting a big and scary red “candle” to come. While well-known Bitcoin supporters, such as Michael Saylor, founder of the American technology company MicroStrategy, believe that the BTC Spot ETF launch may be the biggest development on Wall Street in the last 30 years. The expert suggests that it will cause a "demand shock" for digital gold, which will soon be followed by a halving shock. And all that will lead to a significant increase in asset quotations.

A little earlier in an interview with CNBC Saylor said that if BTC does not fall to zero, then it's going to $1M. 

CryptoQuant analysts believe 2024 could be a long-awaited bull market. And then BTC could rise to $160,000.

Some of the more popular bloggers are more modest in their predictions and are leaning towards $50K in the near term.

🥳 Solana (SOL) back in the lead

SOL has entered the top 5 cryptocurrencies by market capitalization despite the fact that in the spring, no one wanted it at $6. Recently token reached a 20-month high and worth $80 at the time of writing, according to CoinMarketCap.

The total value of the blockchain (TVL) on Solana surpassed $1 billion this week. Decentralized exchanges on Solana are experiencing an increase in trading volume, not least due to increased activity of linked memecoins.

🔑 Key crypto market highlights (December 20 – December 27)

💲 Ideas

[1] 🔔 Check out Moon App token sale

Moon App is one of the first lunchepads on Injective, which is also and multifunctional platform with sniping, futures, options, etc.

Key metrics:

  • FDV - $20M

  • Token - $0.0067

  • Vesting - 10% at TGE, 3 month cliff, 4.5% per month vested linearly.

To participate in the sale:

  • register on the platform;

  • pass KYC;

  • connect wallets; 

  • register for the sale itself. 

There is no exact date for the sale yet.  However, it is worth considering that Injective is on a vast hype.

[2] 🔔 NEAR is nearly reaching its new dawn

According to the technical analysis by Amir Hassan Salek, Near Protocol’s token goes above $2.477 (shown in the yellow circle), it's likely that it will reach three targets: $3.281, $3.725, and $4.357. Currently, NEAR is on the Fibonacci levels of 38 and 23, and it's a strong support area, making a positive scenario more likely. But be careful: if the token drops below the channel floor and Fibonacci 0.5, it could fall below $2.

*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] 🔔 Airdrop by ZKFair

ZKFair is a new L2 based on Polygon CDK and Celestia DA. This network is completely community oriented and 100% of all tokens are allocated for drops. Already gave away the first 25% for those who burned gas on zkEVM and other ZK L2s (Linea, Scroll, zkSync, zkSpace) between October 20 and December 20. Check your wallet.

Further, 75% of tokens will be allocated to users who will be active in the upcoming campaign from ZKFair (starts December 23).

The faucet in Discord is not working yet, so you can get some USDC through the official ZKFair, Meson, Owlto bridge. More details here.

Thank you for navigating the crypto cosmos with us. Your support is our driving force. Until our next rendezvous, keep riding the waves of the blockchain revolution. See you next week! 🚀🌙

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