TradeFi Goes All In ??

Hello hello ??

Welcome to another edition of the DIFX Dispatch! It's been a slow week, right?

WRONG

This week we saw massive changes that have brought some much-needed life to #WEB3 and more importantly #crypto market.

So without further adieu, let's get into it.

A Matchmade in Heaven? Blackrock says YES ??

In a week where #Bitcoin and crypto were put under immense scrutiny by the #SEC and investor confidence was dipping lower every day...

Along came Blackrock who ?? please, applied for an application to list a Bitcoin ETF.

We repeat a BITCOIN ETF!

As negativity spiralled around the crypto space, the largest asset manager in the world dropped a bomb that would shift the market from sadly bearish to undoubtedly bullish. The #ETF would give traditional investors a way to profit off Bitcoin gains without actually owning the asset.?

Blackrock’s iShare Bitcoin Trust has brought momentum to the industry and other firms have begun applying for their own ETF. Investment firms Valkyrie, WisdomTree and Invesco have all since filed their applications to the SEC.

Not only are applications for ETFs coming into play, but traditional firms are also getting involved in the action in other ways as well.?

We’ve seen the Deutsche Bank apply for a digital asset license in Germany, along with Wall Street big hitters Fidelity and Charles Schwab, who’ve teamed up with the market-making colossus Citadel Securities to launch EDX.?

Bear in mind this all happened in the past couple of weeks while Binance and Coinbase were putting an army of lawyers together.

Crazy right?

And just so we're clear, EDX is a crypto exchange which offers Bitcoin, Ethereum and other major cryptocurrencies.?

Now...if we were conspiracy theorists, which we're certainly not ;)

This could be interpreted as the SEC clearing the path, causing a small dip in the market just as these giants stepped in to pick up assets at a discount.?

Anyways we guess we shouldn’t assume and just take this as really, really, REALLY great timing ??.

Bitcoin Breaks $30,000 ??

Bitcoin has seen a near 90% gain since the start of the year. Phenomenal moves after a catastrophic 2022.

We could get into the technical analysis of BTC but we don’t want to bore you with all the chart analysis jargon and tangled trend lines.

Instead, we are going to talk you through specifically what is occurring in terms of price action for Bitcoin.?

Firstly, let's go back to Jan 1st, BTC opened the year at $16,530. It saw a meteoric rise from there to $31,000 over 3.5 months and by mid-Arpil, the entire community was losing their minds??.

But then, a downshift back to 1st gear tamed the mood as the market entered a bearish retracement trend.?

Meaning the price on the chart was slowly trending with lower highs and lower lows, highlighting that the price was falling slowly over time.

While price action simmered into a consolidated retracement, which is trading for, can somebody please come get this BTC!?

The rest of the market took a chill on all the bullish sentiment. Investors began to wonder and debate whether this was actually the start of the bull market or if we were bound to see $20k again before things really spiced up ???.?

Then the good old inevitable happened, the SEC stepped onto the stage and sued Binance and Coinbase simultaneously.

Heavy…

This spurred further bearish moves but still within the downside trend,

nothing majorly dramatic but negative moves nonetheless.

Not to mention investor confidence faded faster than the hype around - what was that #memecoin called again - Toupee ??

…. ANYWAYS the point is that this was detrimental to the community and darkness began to overshadow the space as whispers of the 2022 meltdown snuck back into everyone's ears again.?

But then BOOM ??. Blackrock came in hot. They applied to the SEC for a Bitcoin ETF which drove confidence right back up! So much so that Bitcoin is up 20% since the announcement and is already eyeing the 2023 high of $31,000.

All in all, we see one last hurdle that is holding Bitcoin from making a move for $40,000, which is the resistance point at $32,279.

Once this area is broken, things are bound to get interesting.

Well, Guess There's No FornitexNike NFTs...

Thousands of Nike and Fortnite fans have been left a little underwhelmed as the long-awaited collaboration to build a Nike-themed virtual land ??? named "Airphoria" won't be including NFTs or any digital item trading marketplaces.

Sad news right?!

Last week Fortnite, one of the most popular Metaverse video games, announced a collaboration with Nike for its .Swoosh Web3 platform.?

Now .Swoosh if you forgot is the Nike-owned NFT marketplace that offers digital apparel and accessories sold as NFTs.?

fans were excited to grab some exclusive NFT rewards within Airphoria. However, Epic Games announced on Wednesday that the Fortnite and Nike collaboration will not integrate NFTs into Fortnite's ecosystem, but some crypto elements will still be involved in this collaboration.

So how does it work?

?“Airphoria” Nike's Virtual game ?? within Fortnite. It will act as a Virtual land where users are required to partake in the ultimate Nike sneaker hunt, where they must find lost items called "Air Max Grails".??????

This virtual game will go live on June 27. Players can earn free in-game avatar accessories styled like a classic pair of Nike Air Max sneakers, but the downside is that these free collectables are not NFTs.

All collectable items obtained within the virtual game are purely for the enjoyment of the purchaser and aren't tradeable or transferrable.

But we don't think that would be the case in the future. With so many brands dipping their toes into the #phygital space. We are sure to hear Fortnite announce something soon in the coming months.

Anything for Some Roblox Skins Right ??

NFT thieves, Inferno and Venom, masterminds of mischief, strike Discord servers and Twitter accounts, draining wallets of a staggering $73 million.

With cunning tactics and 32,000 victims, chaos reigns supreme across 900 Discord servers.

Here their MO

Posing as faux journalists, these hackers dupe Discord moderators with a harmless form-filling exercise. The result?

Complete server control.

Then, a false airdrop announcement lures unsuspecting users to a phishing site, leaving the hacker laughing all the way to the bank with a million-dollar NFT feast.

The culprits behind these despicable acts often seek out drainer codes from developers lurking in the dark corners of Telegram and Discord, while using these tools of the trade to infiltrate servers and promote counterfeit websites with the sole purpose of siphoning precious NFTs.?

And believe it or not, these culprits are often kids!

As per Plum a security researcher, 95% of these hackers are under the age of eighteen. They contact the developer and purchase the drainer, while typically agreeing to share 20-30% of the proceeds.

Then they splurge their loot on fancy Roblox skins, laptops, phones etc... while law enforcement struggles to keep up or even understand what's going on!

All we can say on this is that maybe from this year onwards summer break activities might just include an occasional hack ??

Till then, remember to keep your wallets Safe!

Etherescan Levels Up with AI ??

Etherscan, the mighty explorer and analytics platform for Ethereum, has just taken a quantum leap into the future of blockchain technology.

It has unveiled its secret weapon—a cutting-edge AI-powered tool called "Code Reader" which is here to level up the user experience and make Ethereum exploration a breeze.

Now, in its Beta version (you know, still polishing those AI powers), the Code Reader swoops in to save the day with its Chat Completion mode. A unique mode allows users to retrieve and interpret the source code of specific contract addresses.

What does that mean, you ask?

Well now with a simple click, users can unleash the power of the Code Reader on any contract address they desire. It's like having a backstage pass to the magical world of smart contract source code. Need to decode a contract? Done! Want to explore dApp integrations? Easy peasy! The Code Reader has got you covered ??

Well, that's it from us this week folks.

Remember the wheels of web3 never stop turning so we're sure there's a lot more in store for next week, maybe even a new 2023 high for BTC!

Till then, catch you later ??

About DIFX

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Disclaimer:?The content of this newsletter is only for educational purposes and should not be construed as financial advice, opinion or statements of any kind. Remember investing and trading in volatile markets like cryptocurrencies is highly risky and should only be done with the proper knowledge and understanding.