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Hey, welcome to today's Crypdonuts newsletter. If you haven't yet already, follow us on Twitter for daily updates and insights.

Top news today:

• Crypto or K-rypto?

• Don’t become an airdrop hunter, use one

• What’s happening to Bitcoin?

📈 MARKETS: PAST WEEK

• Despite bullish news for Bitcoin, including Europe's first Bitcoin ETF approval and Coinbase getting the green light for crypto futures trading in the US, bitcoin dipped under $29K, pulling ETH and various altcoins along in its descent.

• Stocks also fell with concerns that interest rates could remain high for longer, and Fitch Ratings also warning it may downgrade dozens of banks, including JPMorgan.

DONUT HOLES

Hole lotta news…

• DeGods debuts Season 3 and “art downgrades”, making prices plummet.

• Coinbase finally wins approval for futures trading in US. This makes them the first crypto-first firm to list regulated, leveraged crypto futures.

• Donald Trump’s crypto wallet address was leaked. He was holding over $2.8M in crypto.

• Europe becomes first to get Bitcoin ETF.

• Onchain Summer by Coinbase kicked off with a bang. Coca-Cola, Atari, Opensea, and more are coming together to celebrate Base.

MARKETS

Crypto or K-rypto?

First off, let’s give a loud cheer to Upbit, South Korea's top crypto exchange. It's like the BTS of exchanges - recently scoring second place globally in terms of trading volume, even outpacing giants like Coinbase and OKX.

🇰🇷 South Korea is crazy over crypto
Upbit is growing against market trend:

• In July, Coinbase’s volume dropped by 11.6% and OKX’s by 5.8%

• Upbit’s volumes increased by a whopping $42.3%

• While Binance’s trading volume is still 7x that of Upbit, Binance has users user all around the globe

  • Upbit exclusively operates in South Korea.

Korea’s got some tight regulations in place – think of it as their way of ensuring everyone plays fair in the crypto sandbox. Planning to deposit or withdraw cryptocurrency? You'll need a non-anonymous CEX account. And if you're depositing fiat, only a KYC-verified Korean bank account will do.

🌶️ The Kimchi Premium
Now, here's where things get ‘spicy’: the "kimchi premium". It's not about the traditional fermented dish, but the gap in crypto prices between Korea and the rest of the globe.

Typically, it's a modest 2% difference. But occasionally, this premium gets a caffeine boost and shoots up.

🪙 $SEI drama on Upbit
For instance, the SEI token recently appeared on Binance and shortly after, graced Upbit.

Thanks to some market peculiarities and withdrawal pauses on other exchanges, SEI's price on Upbit soared, hitting a staggering 170% premium ($0.23 vs $0.63). This disparity drove up the trading volume of SEI and led to a surge in its prices in other global exchanges as well.

Keep your eyes on Korea
Koreans are among the most passionate about cryptocurrency globally. Even in bear markets, their enthusiasm remains high. By keeping an eye on Korea's market movements, savvy investors can capitalize on unique opportunities like the kimchi premium and potentially see impressive gains.

TOOLS

Don’t become an airdrop hunter, use one

In our past edition, we introduced a career path for you - an airdrop hunter. They’re basically people who scavenge around for risk-free earnings in crypto, by predicting projects that will reward its users with airdrops in the future.

These airdrop hunters make big bucks.

Case in point: the Arbitrum airdrop.

Remarkably, one airdrop hunter acquired a staggering $1.27 million by securing 933,375 ARB tokens just by transferring tokens to the Arbitrum network.

And the best part? The only expense was the nominal transaction fee.

But what if I don’t even want to put that work in?

If you’re experiencing a serious case of laziness, there are tailored services like Airdrop Hunter to guide the way. Bankless designed this new tool to highlight projects ripe for airdrop rewards, and give instructions on what to do to win airdrops.

Their track record, with accurate predictions for big airdrops in the past like Optimism, Blur, and Arbitrum, speaks to their expertise.

P.S. Currently, a project named Swell is garnering attention in the Airdrop community

BITCOIN

What’s happening to Bitcoin?

Bitcoin's on a roll, trading above key moving averages.

For those new to technical analysis:

• A moving average (MA) is a vital crypto/stock indicator, which basically smooths price data to neglect short-term volatility and reveal trends over time

• Especially the 111-day, 200-day, 365-day, and 200-week MAs are widely observed across the industry

When bitcoin's price is rising (aka when its bullish), its price tends to stay above all four of these MAs.

• These periods are marked by the green blocks at the chart's base.

• On the other hand, you can see that the green blocks are usually missing in periods when the prices are falling.

And if you look closer you can see that there’s a pattern:

2 years of green blocks (bull market) → 1.5 years of blank (bear market) → repeat.

Now that we just started getting green blocks after 1.5 years of sans green blocks, we may be getting ourselves into the next bull market.

However, there's more to consider. Don’t rely completely on this approach—rather, explore additional signals. Remember, this isn't investment advice, so exercise caution!

🐦 TWEET OF THE DAY

💰 REWARD QUIZ

Quiz yourself, earn rewards

Did you learn something new today? Let’s see if you were paying attention. Buckle up for a 20-second quiz—we might just have a little treat for ya—just for trying!

Afraid of getting questions wrong?

Yes, the shiny 100 points are awesome, but remember, it's about getting your hands dirty and giving it a go. If you get something wrong? They stick in your memory longer, which means you learn more.

So, hop on board with the rest of our brave quiz-takers. Remember, it's ok to score a zero!

Alright, that's a wrap for now. If you made it to here, let us know by voting below👇.

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