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Hiya, fellow degens, and just crypto enthusiasts! This is the buidlbee crypto community team here with tasty insights and news perks.
The price of BTC went into correction again, despite yesterday’s euphoria and growth. The first cryptocurrency dropped below $27,000, and the recent optimism of analysts and traders has faded.
There are two main reasons for the new wave of pessimism:
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Coinbase CEO Brian Armstrong said that China benefits from the restrictions that U.S. regulators impose on the crypto industry.
While crypto companies are fleeing the U.S., authorities in Beijing are publishing a white paper with plans for Web3 (we wrote about it yesterday), and Hong Kong is launching licensing for crypto exchanges, creating a favorable environment for crypto.
In May 2021, we saw the opposite situation: due to pressure from Chinese regulators, miners were forced to leave the country en masse, and the U.S. became the largest cryptocurrency mining center in the world, benefiting from this situation.
This whole situation shows that it makes no sense to fight against cryptocurrency; one party simply gives up on the industry, which migrates to another country, where they create conditions for its development and growth. Thus, innovative services go to new places, easily bypassing local prohibitions and continuing their global work through the Internet.
Yesterday, the bill to ban Bitcoin mining in Texas was officially canceled. Residents of the state rebelled against the local legislature’s decision and won. This case is a good example of how far civil society can go.
An interesting title, addressed to officials, was chosen for this campaign: “Don’t mess with Texas innovation.” The manifesto claims that Texas sees innovation in Bitcoin, whether American regulators like it or not. In this case, the authority was forced to retreat under pressure from furious local crypto cowboys.
Another ranking of the best token sellers for May in terms of current ROI has been published. Tenet and the notorious Sui are competing fiercely for the lead.
If you missed the Sui-related hype, you can try to catch the .sui domain name auction that starts today. If you compare the revenues from selling beautiful .eth domains, they are similar to those from trading the top NFTs. If you reason by analogy, and if the SUI growth rate continues, then over time, investing in attractive domains on this blockchain could become a profitable commodity. You can get all the information here.
Concorde is a standard DEX on the exotic Concordium blockchain. It’s important to know that investors have contributed $76 mln to this blockchain. Testnet has already launched with a $100k pool, half of which will be given away for $5 per signup. Well, the other half will be shared for activity in the testnet.
Ok, what to do?
How to participate in new token sales on the best possible terms? The answer is that you need to get privileged access to Launchpad (usually it is available for very new platforms). Here’s a case study from EXBI as an example of how to do this:
Ok, how do I get my status?
We wish you a successful day and bold gains. See you tomorrow! We’ll have a whole pile of stuff for you to look forward to.
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