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Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. GUN Token Falls After Launch: Off the Grid’s GUN token dropped 30% post-launch, despite the Avalanche-based GUNZ network going live.

2. 📈Technical Analysis Masterclass - Starknet has been in a prolonged downtrend. Watch UseTheBitcoin’s latest Youtube video “Starknet is BLEEDING… But Smart Money is Doing THIS!” to see if it’s technical indicators hints at a possible reversal or join our Official Telegram Channel for more alpha!

3. Blade of God X Drops Web3: A former BOGX exec accused the team of abandoning its Web3 roadmap after raising crypto funds. Allegations include unpaid salaries, blocked refunds, and stolen player rewards.

4. 💡Feature of the Day - zkLend Hacker Gets Scammed: The zkLend hacker, who stole $9.6M, lost $5.4M to a phishing scam posing as Tornado Cash.

   
   All this and more in today’s headlines!

📰 News Highlights:

GUN Token Drops After Launch [Source][Source][Source]

Off the Grid's Avalanche-based GUNZ network launched, but its GUN token dropped over 30% from its Monday peak.

While the gaming network went live, the game itself has yet to transition from testnet to mainnet.

GUN initially surged to $0.115 before dipping to $0.76, with uncertainty around its in-game integration potentially fueling concerns.

The transition to mainnet will enable NFT trading and proper crypto use for GUN, currently functioning as an in-game currency.

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 📈Technical Analysis Masterclass:

Starknet is BLEEDING… But Smart Money is Doing THIS!

What is Bullish Divergence?

• Definition: Occurs when RSI moves up while the price trends down or sideways, signaling a potential trend reversal.

• Historical Patterns:

  • Starknet has shown similar divergence before, leading to price surges.

  • However, divergence does not guarantee an immediate reversal—it can take weeks or months to play out.

Market Sentiment & Potential Impact

• Timing Matters: While technical indicators show potential, market conditions also play a crucial role.

• Crypto Market Influence:

  • If Bitcoin and major cryptos rally, Starknet could follow.

  • If the broader market remains weak, Starknet may struggle to gain momentum.

Should You Buy Starknet?

• Early Entry Strategy:

  • Consider buying a small position now to secure a spot before a potential pump.

  • Only invest what you’re willing to lose, as there’s no guarantee the trend will reverse.

• Risk Management:

  • Use stop-loss orders to minimize losses.

  • Dollar-cost averaging (DCA) can help reduce exposure to short-term volatility.

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Blade of God X Abandons Web3 [Source][Source][Source]

A former Blade of God X (BOGX) executive accused the game's Web2 team of abandoning its Web3 roadmap despite raising crypto funds.

Amber Bella, the game's former CMO, alleged unpaid salaries and blocked communication from founder Tnise Liu Yang after pushing for refunds to NFT buyers.

Bella also claimed the Web2 team secretly claimed player rewards and initially denied involvement.

Only after evidence linked the prizes to their wallets did they remove the accounts.

💡 Feature of the Day: 

zkLend Hacker Gets Scammed [Source][Source][Source][Source]

The hacker behind zkLend’s $9.6 million exploit claims they lost $5.4 million to a fake Tornado Cash site.

In an on-chain message, the hacker admitted they were "devastated" after unknowingly sending 2,930 ETH to a phishing address.

Despite this, zkLend urged them to return the remaining stolen funds.

The February attack exploited a rounding error, allowing the hacker to drain funds through repeated deposits and withdrawals.

😂 Crypto Meme of the Day: 

Meme of the day provided by @Daogano

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com