🏦 What stablecoin is your money the safest in?

July 27, 2022

GM 👨‍👩‍👧‍👦

Seedphrase Daily👋 We’re every degens best friend. We get excited when you tune in and lick your face. 🐶

Today’s estimated research time is 6 hours and 13 minutes condensed into a reading time of 4 minutes. Here’s the latest:

  • 🏦What stablecoin is the safest?

  • 🧭The Beginning of the End. Analysts see further Declines after Fed rate hikes.

  • 🔮NFT Market Projected to hit $200B in 2030

  • 📺Popular Hong Kong store releases a commercial with a Bored Ape.

🏦What stablecoin is the safest?

Because cryptocurrency is so volatile, the answer to keeping your sanity would be stablecoins, right?

Yes, but there seem to be so many. USDT, DAI, BUSD, USDN, and USDC are just a few; it's hard to keep track of all of them. Along with the depeg of one of the largest stablecoins, Terra Luna's UST plunged crypto the market into darkness.

The ones that survived the carnage were USDT and USDC, the largest stablecoins on the market. Tether is leading at #3 in market cap (in the whole crypto market), with USDC following at #4.

Which stablecoin will take the throne? USDT vs USDC 🥊

Arcane research believes that USDC will dethrone Tether, and here's why.

  • At the beginning of 2022, Tether had a market dominance of 47.5%, while USDC had 25.8%.

  • After the first half of 2022, Tether dropped to 43.8%, while USDC increased to 36.3%

  • Based on growth rates (70.4% for USDC and -28.7% for USDT).

  • Tether has refused 3rd party audits. USDC, on the other hand, has regularly been audited by the best accounting firms in the world.

  • Creating more transparency and trust in USDC by users.

  • USDC is more centralized, as Tether is only trackable through blockchain data.

  • It's predicted that USDC will dethrone Tether by October 10, 2022.

This is NFA, just your crypto friends giving you a little perspective so you can keep your money safe! 🔒

🧭The Beginning of the End. Analysts see further Declines after Fed rate hikes.

Now that the merger hype is down, BTC fell 5.4% in the last 24 hours, falling below the $21K support line. Following that, ETH dropped under $1.5K bringing losses to Asian and European markets.

*Twitter becomes dead again*

Thoughts from analysts🧠

"Without support from stock indices, the cryptocurrency market is buckling under its own weight with no meaningful growth drivers," Alex Kuptsikevich, a senior market analyst at FxPro, told CoinDesk.

Current market conditions, he said, were "fueling expectations of a prolonged lull, which fit into historical patterns."

"Bitcoin bottom signals continued this week, but no clear buy signal emerged and the macroeconomic situation still dominates," said Martin Hiesboeck, head of crypto research at Uphold.

He said a 75-basis point hike from the U.S. Federal Reserve this week is more likely than a 100-basis point increase, but he isn't expecting a considerable decrease in volatility in either case.

"Last week's bounce, while showing some good signals, was not nearly enough for bitcoin," he added.

Our predictions 💭

We can't ignore the macroeconomic factors that are happening outside of crypto. Bitcoin is becoming ingrained in global economic patterns. As the currency becomes regularly used in general economic activity, there will be new interactions with other macroeconomic events. No individual event can destroy Bitcoin, but external forces will affect how appealing Bitcoin is to use.

If BTC falls below $20K, it clearly indicates a fakeout, and we are bound for a deeper plunge. The FED will officially confirm a recession on Thursday, and markets will adjust appropriately.

BTC going to $10K could be the greatest opportunity for DCA we'll ever see.👀

As cycles repeat and we will see the light of day again.

We're no experts, just your crypto friends who read everything on the internet to bring your reliable information!

🔮NFT Market Projected to hit $200B in 2030

Even if times are rough now, the future looks bright. According to a report by Grand View Research, these are the reasons why they think the NFT market will hit $200B by 2030.

The current NFT market has a value of $15B, and they predict it will grow at a compound annual growth rate of 33.9% from 2022-2030.

This is simply due to the expanding worldwide demand.🌎

NFTs are trending among millennials. 👶

This is one of the major factors driving the market growth. According to a survey conducted by Morning Consult, in March 2021, 23% of millennial respondents in the U.S. stated that they collect NFTs as an investment option or hobby.

Security🔐

Now that cyber attacks are so common, NFTs/blockchain enable people to claim ownership and authenticate their identity or fraudulent transactions concerning their assets.

Collectible and Personal Use 🧍

For instance, sports NFTs allow fans to connect with their idols directly, game NFTs enable gamers to trade and play, and NFTs for artists enable them to communicate with potential fans and sell their work. It allows people to unite directly with the collections, which makes the connection more personal. According to CryptoSlam, in February 2021, people spent over $1B on digital assets accounting for 61% of the global revenue.

Commercial Use 💼

They said it best "The growing Use of NFTs for business purposes, such as innovating supply chain management and logistics, is expected to drive the segment growth. Logistic companies are increasingly integrating blockchain technology in their operations, creating new opportunities for the growth of the segment."

Regional Spread⏳

North America contributed to 31% of the market's growth in 2021. But once someone makes a game that's popular in Korea (no joke), the demand will be widespread in the Asia-Pacific region with new applications for gaming and metaverse platforms being developed.

These are the many reasons why I'm so bullish. The value that blockchain technology and NFTs provide is groundbreaking and is the solution to the problems that the internet has created.

The only thing holding us back is the macro factors affecting not only the crypto markets but also stocks and real estate. Once the world cools down a bit, we will see the next bull run.

📺Popular Hong Kong store releases a commercial with a Bored Ape.

Broadway Lifestyle is a one-stop electronics and electrical appliances retail chain in Hong Kong with over 30 stores. They released a new commercial featuring a Bored Ape.

The commercial shows Bored Ape #1201 inside a Samsung NEO QLED TV yawning from boredom.

Later in the commercial, the ape blasts off in a rocket displayed on a monitor.

The fact we are seeing some collections developing into staples of our pop culture in real time is insane. It will only get more popular in the future, increasing demand for younger people and businesses.

🌱NewSeeds

What is a token Burn? How Crypto is Removed from Circulation. Good read if you’re unfamiliar. 🤝

You can Now Earn Bitcoin by Playing Solitaire and Sudoku. Web3 gaming is coming for Web2’s necks. 🔪

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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!

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