Web 3 on Fire: Why are they leaving Binance?! 😱

GM, frens! Ambire here with our weekly newsletter. Even if it's been a challenging month, we've managed to keep our spirit up and push through. We want to remind you all that better days are ahead, and that it's still possible to look forward with optimism.

Today we'll talk about: ETH turning bullish and hitting a 7 months high, Argentinian airlines issuing NFTs as e-tickets, OpenSea rolling out OpenSea Pro and historic amount of stablecoin outflows out of Binance. Let's get to it:

ETH hits a 7 months high

ETH is doing some serious winning lately and it's not hard to see why. Not only has it hit a 7 month high of $1,922 on April 5th, but also showed gains on the seven-day, one-month and three-month timeframes. With a week to go until the Ethereum Shanghai and Capella upgrades on April 12th, the market has seen a bullish surge that some analysts believe may just hit an impressive $3k price target in Q2 2023.

ETH's TVL also reached new heights, hitting an impressive $50.8 billion on April 5th - just shy of its yearly high of $51.4 billion set back in February.

That's an incredible achievement, considering the uncertainty and rumors of regulatory action against exchanges that ETH has apparently just brushed off like a champion. For those of us who held on during the lows, it's a great reward for our commitment and optimism.

Argentinian airline is going to issue NFTs as e-tickets

An airline from Argentine is making a step into the future by becoming the first in the world to issue e-tickets as NFTs. The airline is called Flybondi and it has proposed its "Ticket 3.0" upgrade that takes advantage of the NFT ticketing technology powered by Algorand.

Now, passengers can look forward to changing their name on tickets, transferring them or even selling them for a profit on-chain. Plus, they can even buy tickets in advance without worrying about their name and stuff like that - because, you know, it's on the blockchain now.

All these advancements signal that some airlines are more than willing to take a pioneering role in the NFT ticketing space and it looks like travelers are ready for a more flexible travel experience, so who said that crypto can't make it easier to travel?

OpenSea is rolling out OpenSea Pro

Yesterday OpenSea announced that it's rolling out a new product, OpenSea Pro. OpenSea Pro is going to be the pro version of the marketplace, intended for the professional NFT traders. Blur has been targeted the NFT pros for a while, and it looks like OpenSea is finally catching up.

The Pro platform is a rebrand of Gem v2, which OpenSea acquired in April 2022. The goal of the acquisition was to bring professional trading tools to the OpenSea users - and that's exactly what they're doing with this new product.

OpenSea Pro will have 0% fees and provide access to 170 marketplaces so traders would be able to access the best deals, it will also be mobile-friendly, so you can trade on the go. It will support advanced “floor sweeping” for traders, instant sales, inventory management, the ability to optimize gas fees for efficient trades and a watchlist feature - overall, everything you need to efficiently trade NFTs as a pro.

The battle for the market share is just starting to heat up, and as always it's good to see these top marketplaces trying to innovate and bring new products to their users.

📣 Exciting announcement! 📣

Ambire Wallet is hosting a Twitter Spaces event with Evin from Disco.xyz to discuss community, culture, and improving the experiences we all have in Web3! 🚀💼

Join us on Twitter to learn, engage, and ask your burning questions:

🗓️ Date: 12.04.2023 @ 17 UTC🐦 Hosts: @RobertCEdwards (0xHashbrown), @AmbireWallet & @Disco

Research corner: Binance records a historic amount of stablecoin outflows

Glassnode's latest report suggests that when it comes to the recent market uncertainty, traders have made their preferences clear - they'd rather be safe than sorry.

It seems that the primary response to this volatility has been for traders to move their assets away from Binance and into self-custodial platforms like Ambire Wallet. Binance's Net Flow Volume has seen a significant decrease, indicating that an incredible amount of assets have been moved off the platform. The amount of Stablecoins being withdrawn has been particularly high - $295 million per day, which is the highest rate of withdrawal ever recorded for this metric.

However it doesn't mean that investors are giving up on crypto altogether, they just want to really own their assets - Bitcoin and Ethereum have not been affected in the same way. The total supply of BTC and ETH held inside Binance wallets has remained more or less stable.

Binance has been getting a lot of scrutiny from regulators lately, so it's understandable that traders have been quick to jump ship.

It remains to be seen what happens to CZ and Binance in the end, but for now, traders seem content to wait out the storm elsewhere.

The fun page: our weekly meme collection

That's all for now, frens.

We'll see you next week. And remember, the market conditions are temporary, but our commitment to building a better DeFi is here to stay. Thanks for joining us and we look forward to seeing you back next week. Cheers!

Yours, The 🔥 Team

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