📝The Reasons why Ethereum is currently Leading the Market.

GM 👨‍👩‍👧‍👦

Seedphrase Daily👋Here to start your week off like your morning coffee. Straight to the brain.

Today’s estimated research time is 4 hours and 45minutes condensed into a read time of 3 minutes. Stay tuned to where we talk about: 

• 📝The Reasons why Ethereum is currently Leading the Market. 

• 🤔Is Uniswap a worthy long term hold?

• 😡Hacker takes $1.08M from Audius

• 🌱NewSeeds 

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Welcome back! If you know, you know. Weekends are for Podcasts, and weekdays are for emails. 

If you missed what happened last week, watch the podcast to change that! 

We interviewed a crypto OG that made Ms. He talked about his first plays and the mindset you need when investing. 

If you like the sound of that, check it out here! 

Now back to the Newsletter.

📝The Reasons why Ethereum is currently Leading the Market.

Ethereum's price is rising like a middle-aged man on performance enhancers (take that how you want). What's happening, and what can we expect? 

Just before the weekend, EthCC ended, a conference where a bunch of Ethereum junkies went to talk about the future of the Network and wait for the one and only Mr.Vitalik Buterin to speak. 

On a panel at EthCC, Vitalik went through the long-term future for Ethereum. The TL: DR 

• Ethereum was in a "long and complicated transition" phase.

• After the transition to Proof-Of-Stake, Ethereum will be roughly 55% complete from its roadmaps vision. 

• He says the Network faces "short-term pain, long-term gain" soon. 

• After the Merge will be The Surge, where Ethereum will be upgraded to process about 100,000 transactions per second "according to the math."

With somewhat bullish market sentiment in the last ten days, Ethereum has been up 48% and Bitcoin up 15%. Here's what else happened! 

• A whale bought $1.7B worth of ETH future contacts.

• Since May, there have been 131 new whale addresses holding between 1000 and 100,000 ETH.

• The number of wallets holding 10Ξ+ hits and ATH. 

🚨DON'T FORGET! 🚨

The Federal Open Market Committee is holding a meeting this week that could impact the whole crypto market! We talked more in-depth about the effects in this newsletter. 

🤔Is Uniswap a worthy long term hold?

Uniswap is the most prominent decentralized exchange that allows users worldwide to trade cryptocurrencies without an intermediary.

New Records:

• Uniswap almost flipped Coinbase in daily volume! 

• They have 3x more ETH liquidity than Binance and Coinbase. 

Crypto and global markets are adapting to decentralization, and the fact that liquidity exceeds big-time centralized players proves the rate we're growing at. 

These are the advantages of UniSwap: 

• Safe: Funds are never transferred to any third party or are generally subject to counterparty risk (i.e. trusting your assets with a custodian) because both parties are trading directly from their wallets.

• Global and Permissionless: There is no concept of borders or restrictions on who can trade. Anyone with a smartphone and an internet connection can participate.

• Ease and Pseudonymous:  Personal details aren't required when you sign up. 

Will UniSwap be one of the top exchanges in the near future? 

😡Hacker takes $1.08M from Audius

Audius is a decentralized music platform that lets creators own the masters of their records. 

Recently, community voting approved a malicious proposal requesting the transfer of 18M $AUDIO tokens.

How he did it:

 The entry for the attack was exploiting the governance system, which granted the hacker complete control over the governance contract. 

He managed to drain $6M from the treasury but could only sell $1.08M worth. The dumping triggered max slippage, which occurs when traders get a different price than requested due to price movement. 

What happened next: 

Audius confirms they fixed the exploit, and the treasury remains safe.

The community has recommended adding a buyback feature to prevent the token's price from dumping further. 

But investors have yet to get clarity on the stolen funds, not knowing if the money went out of the team's or the community fund. 

🌱NewSeeds

FTX to reportedly Acquire Crypto exchange Bithumb. The legacy continues. 🤭

FTX proposes a way to give Voyager digital clients some of their digital assets back early. Did you lose money here?😅

Celsius Lawyers claim users gave up legal rights to their crypto. You should have been reading our newsletter! 🤗

Huobi becomes the latest crypto exchange to receive provisional approval from Dubai regulators. Dubai will be the strongest country in the metaverse. ⏭

Should Victims of NFT Hacks Be Compensated by creators? Unpopular opinion: No. 🤷‍♂️

Analytics Insight Predicts Metaverse Market size to reach US $475B in 2028. GTA VI will contribute most of this. 🎮

Bitcoin network difficulty drops 27.693T as hash rate eyes recovery. Whoops. 🥵

Top 7 NFT scams to look out for. Speaking of scams. 🗣

Meme of the Day 

See you tomorrow! ✌️

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