Take advantage of all the opportunities you have to explore and potentially benefit from the world of cryptocurrency. Here’s what we found for you today.
Opportunity 1: Tasty places for investors
Sometimes the question of “what to buy” is better reformulated as “where to buy.” Analysts have analyzed all the recent IEO/ICO, and selected the best platforms on which the most successful campaigns came out. If the leadership of Binance is obvious because it has more and better-known projects, then KuCoin in second place is a pleasant surprise.
Opportunity 2: How to get an NFT giveaway and extras from SyncSwap
SyncSwap is a decentralized exchange (DEX) built on zkSync, which in turn is ZK rollup, a protocol that uses cryptographic zero-knowledge proof to provide scalable and inexpensive transactions in Ethereum. The project now has more than 187,000 followers on Twitter, including TrustPad, CyberConnect, and Poolz Finance.
SyncSwap has started giving away NFTs, for which there is a chance to get the OG role and be a candidate for a retrodrop (if there will be any).
The brand new newsletter with insights, market analysis and daily opportunities.
Let’s grow together!
How to participate:
- Go to ChainList and add the zkSync Era network to your wallet
- Then go to the official bridge of zkSync Era, and transfer a small amount of the funds from the ETH network to the zkSync Era network.
- Go to SyncSwap, and make 3 swaps.
- Go to the pool, choose any pair, and click “Deposit”.
- Deposit a small amount of money in the pool (after the NFT claim, you can withdraw it back).
- Go to SyncSwap’s Galxe, log in, add Twitter, and do the remaining tasks.
- After that, the NFT claim will become available (transferring back through the bridge to the Ethereum network can take 24 hours).
Opportunity 3: SXP arbitrage trading
The announcement of Swipe’s plans to swap from the old SXP to the new SXP mainnet coin and rebrand to Solar managed to interest buyers. The SXP/USDT price has started to climb. Since March 28, the value has tripled from $0.29 to $0.90. Now is a great time for SXP arbitrageurs because you can catch a 7-8% difference in price between exchanges. For example, at the time of writing, the price of SXP on WhiteBIT is $0.81, and on Binance it is $0.87.
SXP may reach $1.10-2.10. In this price range, the situation could change dramatically, as people who bought this token at this price 1–2 years ago could start selling it.
Profiting from the difference in the price of a token on different exchanges is called arbitrage trading (this is the most common, but not the only option). Exchange rate differences arise because of the different liquidity of trading on exchanges. Large platforms have a lot of users and trading is active, while small exchanges have low liquidity, so rates on them may lag behind the market. This is what traders take advantage of. Also, the higher the transaction costs, the fewer arbitrageurs are willing to make deals, and the larger the exchange differences between large and small exchanges.
Possible problems:
- Freezing or delaying withdrawals;
- The longer it takes for funds to go from one exchange to another, the greater the chance of losing funds due to commissions or changes in the price of the asset;
- Risks of hacking smart contracts if decentralized exchanges are used;
- Potential backdoor in the trading bot. For the program to work, the user provides it with API keys that give it full access to the funds. And the developer, being able to control it remotely, can take advantage of that for his own gain.