Hello Crypto Enthusiasts!

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

1. 🌀 Drift Airdrop: Solana-based decentralized exchange protocol Drift is launching its governance token, DRIFT, accompanied by a 100 million token airdrop to its user base.

2. 📉 Peter Schiff Challenges Bitcoin: Gold advocate Peter Schiff questions optimistic Bitcoin price predictions, particularly those targeting a $100,000 price during the current market cycle.

3. 🏦 Former NY Fed Chief Joins Binance.US: Binance.US, the US-based arm of Binance, appoints former New York Federal Reserve Bank chief compliance and ethics officer Martin Grant to its board of directors.

4. UK Crypto Regulations by July: The UK Treasury plans to introduce comprehensive regulatory guidelines for crypto assets and stablecoins by July, aiming to foster innovation while ensuring consumer protection.

5. 💡Feature of the Day - STEPN x adidas NFT Collaboration: Solana-based move-to-earn application STEPN partners with Adidas to launch an exclusive NFT sneaker collection. The STEPN x adidas Genesis Sneakers collection offers limited-edition NFTs with real-world rewards and experiences.

6. 📈Technical Analysis Masterclass - Someone sent an “Alpha” list of altcoins to us, but we’re not just gonna trade it blindly! Watch UseTheBitcoin’s latest YouTube Video “These ALT COINS might increase after the Bitcoin Halving” to know which ones are good and which ones are bad!

   
   All this and more in today’s headlines!

📰 News Highlights:

🌀 Drift Airdrop [Source][Source]

Drift, a Solana-based decentralized exchange protocol, is gearing up for a major milestone with the launch of its governance token, DRIFT, accompanied by an airdrop of 100 million tokens to its user base.

The upcoming token launch and airdrop signal Drift's commitment to decentralization and community involvement, with plans to distribute tokens based on user activity on the platform.

The DRIFT token, boasting a total supply of 1 billion, will see 10% of its supply allocated to the airdrop, benefiting approximately 180,000 users. While specific dates for the token generation event and airdrop claim are yet to be announced, Drift co-founder Cindy Leow has hinted at an imminent launch in the coming weeks.

Drift's journey towards decentralization doesn't stop there, as it sets its sights on establishing a multi-branch DAO post-token launch.

📉 Peter Schiff Challenges Bitcoin [Source][Source]

Renowned gold advocate Peter Schiff has raised doubts about optimistic Bitcoin price predictions, particularly those touting a $100,000 target in the current market cycle.

Schiff's skepticism extends to spot Bitcoin exchange-traded funds (ETFs) and the purported demand they generate, questioning the correlation between BTC's price and the performance of Bitcoin-related equities.

Drawing attention to the recent downturn in key Bitcoin-linked stocks, Schiff highlights a disparity between market sentiment and stock performance, suggesting a disconnect between demand for Bitcoin and its associated equities.

While Schiff's critique has garnered attention, some observers argue that his analysis overlooks broader market trends and historical patterns, including the anticipated impact of Bitcoin's upcoming halving.

🏦 Former NY Fed Chief Joins Binance.US [Source][Source]

Binance.US, the United States-based arm of global cryptocurrency exchange Binance, has bolstered its board of directors with the addition of former New York Federal Reserve Bank chief compliance and ethics officer Martin Grant.

Grant's extensive regulatory expertise and experience are expected to enhance Binance.US's compliance efforts and regulatory engagement as the exchange navigates the evolving regulatory landscape.

Grant's appointment comes amidst increased regulatory scrutiny of the cryptocurrency industry, with regulators focusing on issues such as investor protection, anti-money laundering (AML), and compliance with existing financial regulations.

UK Crypto Regulations by July [Source]

The United Kingdom Treasury is poised to introduce comprehensive regulatory guidelines for crypto assets and stablecoins by July, signaling a significant step towards fostering innovation and clarity in the digital asset space.

Economic Secretary to the Treasury Bim Afolami outlined the government's commitment to modernizing the payments landscape and providing regulatory certainty. The proposed regulatory framework aims to strike a balance between fostering innovation and protecting consumers, reflecting the government's broader vision for a thriving digital economy.

Afolami's announcement coincides with the establishment of an open finance task force tasked with crafting recommendations to drive forward the adoption of open finance solutions.

💡 Feature of the Day: 

👟 STEPN x adidas NFT Collaboration [Source][Source]

STEPN, a Solana-based move-to-earn application, has joined forces with iconic footwear brand Adidas to introduce an exclusive non-fungible token (NFT) sneaker collection.

The STEPN x adidas Genesis Sneakers collection offers enthusiasts the opportunity to own digital representations of limited-edition sneakers, accompanied by real-world rewards and experiences.

With 1,000 unique NFTs up for grabs, the collaboration seeks to engage both crypto enthusiasts and sneaker aficionados, leveraging the power of blockchain technology to create novel experiences and incentives. The collection's phased release, featuring early access for STEPN users and a public raffle, aims to ensure equitable distribution and broad community participation.

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📈 Technical Analysis Masterclass:

📈 These ALT COINS might increase after the Bitcoin Halving 📈

Nuls (NULS)

• Entry Price: Market

• Potential / TP: 0.94, 1.28, 2.00

• Strategy: Swing

• Brief Overview: Post-Bitcoin Halving, Nuls shows growth potential, with target prices indicating significant increases.

MDT (Measurable Data Token)

• Entry Price: Market

• Potential / TP: 0.10, 0.13, 0.17

• Strategy: Investing/Swing

• Brief Overview: MDT offers investment and swing trading opportunities, with potential targets set for various price levels.

WLD (Wilder World)

• Entry Price: Market

• Potential / TP: 7.23, 9.50, 11.89

• Strategy: Investing/Swing

• Brief Overview: Favorable for long-term investment and swing trading, with potential target prices based on market entry.

ROSE (Oasis Network)

• Entry Price: Market

• Potential / TP: 0.13, 0.17, 0.24

• Strategy: Swing

• Brief Overview: ROSE presents swing trading opportunities, with projected target prices indicating potential gains.

XAI (Siacoin)

• Result: Not recommended for investment due to market structure.

• Brief Overview: Unfavorable market structure analysis suggests XAI is not suitable for investment.

Check the other 5 on UseTheBitcoin’s latest Youtube Video “These ALT COINS might increase after the Bitcoin Halving” and know which ones are good to getting in early!

😂 Crypto Meme of the Day: 

And that’s it for this today.

With all of the recent hacks taking place, remember to protect your crypto assets with today’s sponsor Trezor hardware wallets.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.comToday's Top Crypto Headlines: