Apr 8, 2023
Bonjour, crypto amis! 👋🏻
Join us for another edition of Flippening, the newsletter that's as innovative as Ethereum and as solid as Bitcoin. 😎
Disclaimer: All price movements are recorded up to 03:30 PM UTC, 07th Apr 2023
With the Shanghai Upgrade nearing, ETH seemed to be the best companion of investors. Most of the other top cryptos witnessed minor selloffs.
We have time and again realized that there is never a dull day in crypto! With that in mind, what are some of the coolest things you can do this weekend to level up your crypto game? 🚀
Here are some 🔥 ideas that you can try this weekend!
📧 Subscribe to crypto newsletters: Sign up for reputable newsletters that cover the latest news and developments in the crypto space. This will help you stay informed about important events, such as new project launches, regulatory changes, and market movements. Plus, you don't want to miss out on those sweet airdrops, do you? 😉
(P.S. We did an extensive airdrop guide a few weeks back. We have another one coming up soon)
🎧 Listen to podcasts: It will help you better understand the technology and stay up-to-date with the latest trends and developments. And who knows, maybe you'll become the next crypto influencer? 🎙️
💬 Join online communities: Join online forums, chat rooms, and social media groups to interact with other crypto enthusiasts. It will allow you to ask questions, share ideas, and network with others. And if you're lucky, you might even make some new friends along the way! 🤝
💰 Participate in airdrops: Participating in airdrops can be a great way to get involved in a project and potentially earn some tokens. All you have to do is follow the instructions provided by the project, which can include joining social media groups, completing simple tasks, or holding a certain amount of a specific token.
Always do your research and never give away your private keys or personal information. 🙅♀️
In conclusion, with these tips, you'll be well on your way to becoming a crypto pro. So what are you waiting for? Let's go! 🚀
If you think we missed out on adding any other cool things to try out this weekend, reply back to us. Maybe we can feature those in our upcoming editions.
P.S.: Special mention to our good friend and crypto OG, Ryan from Bankless, whose weekly tweets inspired us to compile this list.
Which of these weekend activities can turn you into a crypto pro?
- Sleeping in till noon 🛌
- Binge-watching Netflix 🍿
- Participating in airdrops for free tokens 💰
- None of the above, I'm already a crypto genius 🧐
Top Highlights of the Week
1. It's raining dollars!
In its Series B funding round, blockchain infrastructure provider, LayerZero Labs, has raised $120 million at a valuation of $3 billion. The round featured a total of 33 investors, including names like Andreessen Horowitz, Sequoia Capital, and Samsung Next. The capital is expected to fuel the expansion of the firm's presence in the Asia-Pacific market, apart from other growth initiatives.
Our takeaway: A nine-figure deal amidst a bear market that's seen companies stagnating indefinitely is surely no small feat. And a 3x valuation jump within the period of a year is infinitely more impressive. Although to be fair, infrastructure-focused projects have shown promising signs during this period, with many looking geared up for a sprint when the bull market comes around. We sure do hope these signs translate to tangible results during the next bull market.
Featured: Mudrex Coin Set 😎
The problem most crypto-curious investors face is choosing the right asset to invest in. With different sectors and thousands of cryptos to research and evaluate, it's easy to get lost. Diversification is usually one of the best ways to stay protected and build long term wealth.
And Coin Sets are the solution. With Mudrex Coin Sets, you get to diversify among the top assets belonging to popular themes. Do you have a crypto-specific theme you're bullish about? Have your pick from Crypto Blue Chip, Web3, DeFi, Smart Contract Platforms, etc.
✅ One-click diversification
✅ Set up recurring periodic investments
✅ Sector based baskets
✅ Regular rebalancing
👉🏻 Use code "MUDREX10" to get $10 bonus on your first investment.
Level Up with Coin Sets
2. You've got the wrong guy, officer!
The New York Department of Financial Services (NYDFS) stated this week that the reason for Signature's closure was the bank's liquidity (or lack thereof) and not crypto! This comes a few weeks after the twin downfalls of SVB and Signature Bank. Following these unfortunate events, the narrative from the mainstream media painted crypto to be the villain in Signature's demise.
Our takeaway: Compared to other asset classes, cryptocurrencies are largely unregulated. And this makes it an easy target in situations like this. Not to sound like a broken record, but proper regulations are the only solution in these situations. And moreover, better regulations would actually help prevent such incidents to a large extent and protect investors.
3. Nothing but green
Decentralized exchanges have had quite a Q1 of 2023. Since December, trading volume on DEXs has grown 167%- an exponential rise. This took the total to $131.2 billion last month. The interesting part is that a whopping $71.6 billion of this figure came from one DEX- Uniswap., which had its best month since January 2022. And it doesn't end there. With this, Uniswap just had its second straight month with a higher trading volume than Coinbase.
Image source: DeFiLlama
Our takeaway: In March, Uniswap beat Coinbase's trading volume by 45%. These numbers can be attributed to investors getting spooked by how aggressively regulators are targeting CEXs. Kraken saw its staking service get shut down followed by a $30m fine; Coinbase faced an investigation over allegations of selling unregistered securities; Binance is facing allegations of unlawful trading. Until CEXs are insulated by better regulations, safe CEX remains more of a belief than a firm reality.
Crypto jargon of the week
Explain Like I'm 5
Never gonna give you up
Holding an asset and not selling it despite its volatility
Example- Diamond hands ride out the bear market to reap the profits in the bull run
Other stories that caught our eye this week
- Blur had the lion's share of NFT trading volume among top marketplaces in March. Ball's in OpenSea's court. Read here.
- Dogecoin saw a massive rally after Twitter changes logo to DOGE dog. A rally too good to be true? Read here.
- Ordinals rule the roost on Bitcoin blockchain. Bitcoin and NFTs- who would've thought? Read here.