Happy Holidays!🥳

And a year-end recap

Good Morning, Switchers 🌞

👋Welcome to Switch Daily.

Woah! Looks like we’ve finally dragged ourselves to the end of the year with the hope that 2023 is when the bull run begins. Come on, we all know that it was your secret wish to Santa this Christmas. 😉

Through all the clutter of bad news, we wanted to take you through some goodness that this year offered to us:

  • Bitcoin remains the ‘King’ as it continued to operate smoothly and still stands to be the largest crypto by market capitalization.

  • Crypto proved that it could be used for the greater good during the Russia-Ukraine crisis.

  • Ethereum took a step closer to becoming green by moving to Proof-of-Stake successfully.

  • Introduction of Taxes on Crypto Gains hinted that India is not willing to lose out on the crypto economy.

  • Last but not least, we launched Switch Daily for you 😎

Let’s remember 2022 for this goodness and hope that the list only gets bigger in 2023. Until then, we wish you a Happy and Prosperous New Year! As we enter into a new year, we're excited to continue sharing updates, insights, and valuable content with all of you. Thank you for your support and for being a part of our community. 🙌🏻

Here’s what we’ve got for you today:

  • Market pulse

  • BAYC is expanding its universe

  • News to start the week

  • Meme of the day

Market pulse 📈

The market is busy having fun 😎

The holiday season has kept everyone occupied, even the crypto market. With no major news to drag the market sideways, the crypto market experienced a mixed session. From the top cryptos by market cap, XRP rallied by 5.69% to lead the way, while DOGE bucked the trend to trade in negative. Other top cryptos, including ADA, MATIC, BNB, BTC and ETH, also witnessed modest gains.

As BTC continues to fall short of $17,000, the Fear and Greed Index slipped from 28/100 to 27/100.

C'mon, aren't you gonna let your friends in on how the market is performing today?

🔥Best of 2022 ft. Switch Daily🔥

It is officially the holiday season. Our office cabins are empty, Instagram is full of travel stories, and we’re hogging the leftover cake from Christmas.

And as the year ends, we’re simply grateful for you and the time that you dedicate to reading us every single day. 🙌🏻

So, no big breaking stuff today. Let’s take a trip down memory lane and revisit some of our favourite Switch Daily issues.

#1 🇮🇳What is India BUIDLING?

There are over 450 Web3 startups in India. Yep, for real!

The Web3 space in India is buzzing with so many ideas taking shape and solving real problems. But we don’t really know many of them, do we?

So, we scrubbed through the internet, went to ‘n’ number of Web3 meetups, contacted almost all the Web3 DAOs in the space, and put down a hot list of 25 Indian Web3 projects that are solving users’ problems, basically our problems.

Check out who made it to the list.

#2 350 scam tokens per day 😱

350—That’s how many fraudulent crypto tokens were generated on a daily basis.

In this issue, we cover a super interesting report on rug pulls published by blockchain risk monitoring firm Solidus Labs.

According to the report, between Jan 2022 and Nov 2022, fraudsters created over 1,17,629 ‘scam’ tokens, a whopping 41% increase since 2021, which saw 83,368 tokens. So simple math:

1,17,629 / 365 = 350 average scam tokens per day in 2022.

But what is rug pull? And how do we identify one? Check it out here:

#3 BTC bottom: near or already here? 🤔🤔

BTC will correct more!

BTC will go down to 10K!

BTC has bottomed out — a rally begins soon!

If you have heard these speculative statements during the bear market, it’s time to cover those ears for good. Or you can simply read along and see us give you some data-backed metrics on the famed BTC bottom. 🙏

#4 🌉🔥The Burning Bridges🔥🌉

Have you heard of the ‘train robber’s bridge’?

In the early 60s, a regular bridge in England witnessed one of the greatest train robberies. Legend has it that the thieves chose a bridge because there was nowhere for the victims to escape, and they were often undetectable till late.

Wait, why are we talking about this? Coz most of the crypto hacks in 2022 happened by attacking bridges on the blockchain. Crypto hackers are following a ‘train robbers bridge’ technique, except they are attacking cross-chain bridges instead of actual bridges.

But how? And what are cross-chain bridges? We talk about all that in this burning issue:

BTW, if you like reading this newsletter, give us a shout-out on Twitter and get your friends to subscribe. It will mean a great deal to us!

Holiday Note 🤗

This will be the last edition of Switch Daily for the year 2022. We will be on snooze for the holiday break, which means you will not see us between 28th Dec 2022 to 1st Jan 2023. But, we promise to spring back on 2nd Jan 2023 with fresh stories and new insights on crypto, Web3 and modern money. Until then, stay tuned! And oh, Happy Holidays, folks!

Meme of the day!

Thank You,

See you next week, folks. 👋

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