[Weekly] Airdrop Season is coming🔥

Hey there 👋

We've got a surprise for all our readers somewhere within the newsletter. Read on to find out 👇🏻

It has been a truly exciting week for crypto! Several new announcements and revelations. The only listed crypto exchange takes a massive step towards decentralization! After being the talk of the town for its airdrop, BLUR seems to have found its spotlight for controversial reasons.

Disclaimer: All price movements are recorded up to 03:30 PM UTC, 24th Feb 2023

Although the numbers seem steady for the past week, we expect bearish dominance over the coming weekend.

Crypto simplified

Airdrop 🪂season is coming! Gear up.

BLUR recently airdropped its token and the NFT ecosystem went crazy over it. Additionally, they decided to get into a head-on-battle with the existing NFT marketplace czar, OpenSea!

But this edition is not going to be about $BLUR.

👀In this edition, we will share potential airdrop strategies for two projects that you can adopt right now to become eligible.

1. LENS Protocol 🔎

It has been the talk of airdrop circles since our friend Olimpio put out a tweet about it!

Lens is a decentralized social network built on the Ethereum blockchain. It allows users to create and curate content, connect with others, and earn rewards for their contributions.

Now, coming to the strategy:

🤓 First, get a LENS handle!

Getting your hands on a LENS handle is easy, but it costs some bucks. These profiles are NFTs and can be purchased on OpenSea.

The starting price for a LENS profile that is already minted is currently 118 USDC.

If you buy a Lens handle in OpenSea, you can start using it immediately, but you can’t pick up the @ handle since it was already minted by someone else.

The floor price will probably dump hard when Lens Profiles are unlimitedly open to the public, but there is no ETA on that.

💰You can also mint your own LENS handle, at a fraction of the cost. But there’s a catch!

The latest way to get whitelisted is to have a +700 DegenScore and mint via Phaver App.

You can mint your own Lens handle, but right now, minting is closed, and they open it for some users from time to time.

😎 Following on Lens

You don't need a Lens profile to follow someone on Lens.

To follow someone on Lens, go to lensfrens.xyz/, connect any wallet, with or without a Lens profile, click follow, sign the #1 txn, and submit the #2 txn to the blockchain.

2. DefiLlama 🧐

It is an analytics dashboard that tracks all popular chains and their DApps.

However, the platform also provides a dex aggregator, where you can swap one token for another.

And this aggregator has spurred rumors of a potential airdrop.

👉🏻 Head over to DeFiLlama and swap some tokens.

Worth using it not just for any potential drop but because it is also really good.

Here's your chance to grab bragging rights 😙

Top Highlights of the Week

1. Switzerland: Dream destination for crypto as well

The Swiss city of Lugano is making headlines with its project, Plan ₿, which is committed to developing new infrastructure for the adoption of Bitcoin, Tether, and its local LVGA stablecoin as legal tender. And once the system is in place, the city's residents will be able to make everyday purchases at over 200 local businesses and even pay taxes using these cryptocurrencies.

2. Bitcoin's a strong, independent asset that don't need no S&P 500

Over the years, Bitcoin's shown a strong positive correlation with the S&P 500. But recently, crypto's top dog has been showing the largest daily negative correlation since the FTX collapse in November. For the last few days, the S&P 500's been on a downward trend while Bitcoin's remained comparatively steady. Given that Bitcoin's outperformed the S&P 500 by a huge margin since the beginning of the year and shows signs of a compelling comeback, this negative correlation is likely to grow further.

3. OpenSea's vision's all Blurry

OpenSea had cemented itself as the leader in the race to be the top NFT marketplace, but Blur has shaken things up in the last week. Over $800 million worth of NFT trades took place on the Ethereum network, with Blur contributing $663 million to that number while clocking in a 244% WoW increase. In the same period, OpenSea registered $124 million in trade volume. For context, this follows the BLUR token airdrop last week on Valentine's Day.

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Disclaimer: All price movements are recorded up to 03:30 PM UTC, 24th Feb 2023

While sector-wise performance mimics the performance of the top cryptocurrencies for the most part, the Web 3.0 sector has seen considerable growth in the past seven days.

Crypto jargon of the week

Explain Like I'm 5

" Bitcoin Dominance "

Taking the lion's share of the market cap

Ratio between the market cap of Bitcoin to the total market cap of the entire crypto market.

Example- Bitcoin dominance is a useful tool to evaluate the growth of the crypto space over the years.

Other stories that caught our eye this week

• FTX Japan withdrawals hit $50 Mn since resuming the service. Earning back consumers' trust the right way. Read here.

• Columbia hosts court hearing in the metaverse. If you're found guilty, does your avatar serve your jail sentence? Read here.

• Coder adapts Ordinals NFTs for the Litecoin blockchain. Everyone's invited to the party. Read here.

• Number of Bitcoin whales drops to 2019 lows. On the bright side, smaller investors with >1 BTC have increased significantly. Read here.