🥛 Whether half is a lot or a little

Hey crypto adventurers! Are you ready to unbox another edition of our buidlbee newsletter, packed with more twists than a blockchain consensus algorithm? 🎁🔗 Grab your digital pickaxes and meme-shovels – we're digging deep into the mines of crypto knowledge, hunting for those golden insights! ⛏️💡 So let's flip some sats, decode some memes, and remember: in the world of crypto, even the moon can't escape our curiosity! 🌕🚀 

And here’s what we've prepared for you today:

• Again about halving: we analyze the examples of Litecoin and Bitcoin;

• Which asset has the maximum inflow in August?

• Rise of $APEs (technical analysis*);

• A possible surprise from Nansen V2.

Meet the important news:

• US Consumer Price Index for July: previous 3.0%, actual 3.2%. US Core CPI for July: previous 4.8%, actual 4.7%.

• Distrust has discovered a serious vulnerability affecting cryptocurrency wallets using Libbitcoin Explorer version 3.x.

• The Solana Saga mobile phone has been almost halved in price, and future benefits like allowlists and NFT airdrops will be added for gadget owners.

• The y00ts NFT project has announced that it is migrating to Ethereum.

• Reddit tokens BRICK and MOON have started up on Kraken.

✂ Halving on the example of Litecoin and Bitcoin

There are always a lot of speculators' hopes associated with halving, but as a recent example has shown, it has not had a positive impact on the Litecoin rate. Let's try to understand what's going on.

So, LTC has gone up by about 3% in the last few days after halving in early August. The reward for mining a block on this blockchain has dropped from 12.5 to 6.25 LTC. According to IntoTheBlock, the number of active addresses on the blockchain has doubled since the previous halving in 2019.

And here are the first statistics a couple days after the halving, showing two negative consequences:

• The value of conducted transactions changed almost six times in the last 24 hours.

• The hashrate of the Litecoin network fell to its lowest value this year. This means that nodes are hastily leaving this network after the drop in reward.

Looking at these facts, it is clear that halving has worked as a negative factor for Litecoin (at least looking at the first results). The situation was worsened not only by the exodus of miners but also by the massive sell-off of LTC by disappointed speculators.

If we compare it with a similar chart of changes in BTC mining fees, we can see that Bitcoin halvings worked differently on this network. The current resistance at $1.3/Exahash proves once again that the Bitcoin rate never falls below the cost of its mining.

This chart makes us hope that after the halving procedure in mid-2024, the rate of BTC will have to rise significantly (this is a historical pattern) to adapt to the cost of mining. Speaking roughly, this is at least the $50k level. In the case of Litecoin, the opposite happened — to equilibrate the balance between costs and revenues, the weakest (or least motivated) players left the network as the declining market could no longer feed all.

💲 Ideas

[1] 🔔 Which asset has the maximum entry flow?

The headline question is an important one because big $$$ is the fairest bet in the market. According to data from CoinSharesCo in early August, the largest inflow of institutional dollars was into Solana. This asset holds the record against all the others. It is clear that from the market leaders, BTC and ETH, 💲 was leaving in the current month.

As you can see on the chart, the SOL rate correlates perfectly with the data from financial flows monitoring, showing +9% for the last week. We have to admit that this month, Solana is a real magnet for big $$$.

[2] 🔔 APE rally coming: from $1.70 support to $10 target?

APE is one of the largest NFT ecosystems, which includes the famous Bored Ape Yacht Club (BAYC) collection and the Otherside meta-universe. ApeCoin ($APE) is a native ecosystem token based on Ethereum.

The token is currently at $1.84. The chart below shows signs of oversold conditions, which, according to CryptoPatel analysis, indicate the possibility of a U-turn or a strong rebound.

There is solid support at $1.70.

• Potential: minor corrections are possible, but the overall sentiment suggests that accumulating APE in the long term may be a prudent strategy given the current technical outlook.

• Suggested entry points: $1.80 and $1.60 range.

• For the riskier ones: the $1.20 - $1.00 range.

• Targets: if the coin manages to break the resistance level, the $4.50 target is realistic. After that, the next targets would be $10 and $15. A sustained move above the $4.50 level could create momentum for further growth.

*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 Nansen?

Nansen is a blockchain data analytics platform similar to Arkham, but with most of the functionality. They invested $88 million in the project. Their X (ex-Twitter) is subscribed to by Mexc, Ton, Vela, Magic Eden, Galxe, Polygon, DeBank, ByBit, OKX, etc.

Nansen recently launched a program with points and invites before the V2 release. Therefore, it is possible that there will be token drops from the project in the future.

What to do:

• Register on the site;

• Be active on the platform itself;

• Invite friends via the personal link generated during registration.

It's time to say goodbye. But only for today! As we sign off from this digital playground, remember: HODL your dreams, avoid FOMO, and keep your crypto spirits high! 🚀🌌 Until our next adventure, keep those diamond hands strong! 💎👋 To the moon and beyond (or at least to the next newsletter)!