GM Seedphrases 👋 We’re the taco shell for your tacos, the meat for your potatoes, and the source for your crypto. Read us and share 😃 

📓 Today’s Agenda:

• 📉 Crypto Headlines

• 🌙 Bitcoin Mooning

•  🔊 Ethereum Stats

• 👾 Reddit Gen 3 NFTs

📉  CRYPTO HEADLINES

📈 Market Headlines

• US Presidential candidate Robert F. Kennedy Jr. advocates for Bitcoin, stating that it is an escape route from the financial bubble - Learn More

• SushiSwap crypto exchange has been hacked due to a RouterProcessor2 exploit. Currently, there is no ETA on when funds will be returned  - Learn More

• Shiba Inu Team member states that the team is confident users will explore the $SHIB Metaverse by the end of 2023 - Learn More

• Hong Kong Finance Chief is rolling out plans to boost Web3 adoption, stating that now is the time for promotion - Learn More

🖼 NFTs

• DeGods announce details for its upcoming multi-day DeNYC experience. Events include parties, treasure hunts with over $100K in prizes, and more - Learn More

• Magic Eden Bitcoin launchpad is now live. This allows creators to easily create and launch a Bitcoin ordinals collection directly on Magic Eden - Check it Out

• Doodles announce the opening of the Community Council applications. Positions opened include Chair, Treasurer, Events, and more - Learn More

• OpenSea Pro has become the leading NFT aggregator in terms of daily active users, capturing over 50% of active addresses - Check it Out

Bitcoin started this week out with a bang, climbing 7% over the last week, topping out at $29.8K.

Fun Fact: Bitcoin is up 80% since the start of 2023

The majority of this pump is due to this week's CPI report, which is expected to come back at 5.2% y/y, 0.8% lower than last month's y/y.

AKA: Inflation go down, bags go up

FYI: The last time Bitcoin traded above $30K was June 2022.

So, what’s next?: Currently, there is very little resistance between now and a $32K Bitcoin. In the short term, the worst thing that can happen for Bitcoin is a negative CPI report.

A negative CPI report could install a small wave of uncertainty in the market, creating a narrative that things may get worse before they get better in the short term.

If this plays out, we could see Bitcoin return to Earth and retest the $25K - $27K level.

Stat of the Week: Bitcoin dominance is at 47%, the highest it's been since June 2022.

WARNING: Don’t get caught with your pants down waiting for a Bitcoin dump. Time in the market always beats timing the market.

Like my great great grandpa always said, DCA IS THE WAY

🔊 ETHEREUM DID WHAT?

The Ethereum Shanghai upgrade is slated to go live tomorrow, April 12th.

In the lead-up to this highly anticipated upgrade, the total ETH value locked has eclipsed 18.1 million ETH, equalling $33.9 Billion.

Ethereum’s total supply is projected to hit 117.8M ETH by April 2025. That is -2.6M ETH less than current supply levels.

If this projection plays out, that will result in $5 Billion worth of ETH burned from the supply.

Ethereum validators are going to have one heck of a payday over the next few years.

Total Ethereum burned since the merge is currently sitting at 446,278 ETH, which is 20K ETH more than last week. That comes out to an additional $38.3 Million in ETH value burned.

The following are the top five categories responsible for burning ETH over the last week.

• NFT: 5,419 ETH

• Defi: 5,381 ETH

• L2: 2,022 ETH

• Transfers: 1,182 ETH

• Misc: 416 ETH

Since the merge, Defi is the top-performing category for burning ETH. However, it is projected that NFTs will soon eclipse Defi as the most active category of the ETH ecosystem.

🤝 TOGETHER WITH BANKSY-DAO

Invest in multi-million dollar Banksy paintings whilst supporting NFT creators and established artists.

Banksy DAO is building an exclusive auction house that reduces barriers to entry into a market that has historically only appreciated.

Developing an NFT Auction House that opens up opportunities for membership holders to buy art from the world’s most famous artists in both the real world and web3.

The first release will be their new membership passes. Limited to 3,333 Passes

While offering a chance for 25 pass holders to own REAL STAKE in the Esso Banksy painting that could be worth up to $10,000 per share.

Each purchase on the platform will have a fraction of the Banksy included for free. Opening up the opportunity for digital asset investors to diversify their portfolios with real-world assets with every purchase on our platform.

To participate, follow them on Twitter and look out for whitelist opportunities:

👾 REDDIT IS DROPPING

Reddit has announced today, April 11th, as the launch date for its Gen 3 Digital Avatars.

Some say it's one of the best representations of NFTs in the space.

I don’t know who says that, but they say it.

FYI: If you are interested in checking out available Reddit Digital Avatars, Click here.

The introduction of Reddit Digital Avatars was one of the biggest waves in NFT history and was the first Polygon collection to stand apart from the crowd.

The fact that Reddit continues to launch more Avatars is extremely bullish for NFTs and overall Web3 space.

Most holders of Reddit Digital Avatars probably have no idea they are holding an NFT. This means there is the extreme potential for Avatars to grow into one of the leading onboarding entities in Web3

Keep an eye out around afternoon time EST for the announcement of the drop!

GET IN FRONT OF 25K+ CRYPTO ENTHUSIASTS

Advertise with Seedphrase to get your brand in front of top crypto degens. Our Seedphrasers are new & active crypto investors who are always looking for their next interesting product or tool. Get in touch today.

😂 A MEME FOR YOU

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.