Once again, it's Friday, and that means it's time for our weekly update. Here, we gather the highlights of the week, share PointPay's accomplishments and changes, and announce the winners of our competitions. Let's dive right in!

  • The winner of the Trading competition is 25323213952, who will receive 5,000 PXP!
  • The winner of the Bug & Suggestion competition is 24867584285, who will receive 7,500 PXP!

Congratulations on your victory! Your reward will be credited within a few business days. You will be able to see the credit in your transaction history.

Also, we have already launched a new round of competitions! Trade on the PointPay exchange with any pairs or submit your platform development ideas through the special form to win PXP. In addition to ideas, we also welcome any bugs you may discover! By doing so, we can quickly identify and fix any potential issues, and you can receive a reward for finding them. Please remember to describe the steps you took to encounter the bug and where it occurred (website, Android or iOS application).

This week, we continued working on polishing the platform. The teams had several tasks for optimization and reworking of functions. We are currently striving to identify all the bottlenecks in our platform and optimize them to the maximum, making the website and applications run smoothly.

Furthermore, we are continuing the development of the announced test platform for margin trading. We have already prepared the groundwork for this functionality in the new version of the platform, and development is progressing at full speed.

Meanwhile, the cryptocurrency market experienced a sharp surge. This week has been eventful with regards to major companies entering the crypto sphere, showing interest in working with cryptocurrencies, investing, and providing services.

On the evening of June 21st, the price of Bitcoin exceeded the $30.6K mark, marking a significant growth in recent days. Bitcoin's growth from June 15th to June 22nd amounted to about 24%. This growth is attributed to several factors, including renewed interest in cryptocurrency from major corporations. Applications for launching a Bitcoin trust were filed by the large investment company BlackRock, and Deutsche Bank announced its intention to provide crypto custody services. Major financial conglomerates such as Citadel, Fidelity, and Charles Schwab also launched their decentralized cryptocurrency exchange. All of these news items have generated a positive reaction in the cryptocurrency market.

Additionally, the actions of regulators and statements by high-ranking officials also influence the cryptocurrency market. Recent statements by Federal Reserve Chairman Jerome Powell about the need to regulate the stablecoin market underscore the significance of cryptocurrencies in the financial system. This has also contributed to increased interest in cryptocurrencies and their price growth.

Analysts note that the purchases by major players are not yet complete, and their actions will continue to impact the future movement of Bitcoin. Therefore, Bitcoin continues to attract the attention of both investors and analysts, and its future behavior will be determined by the actions of major players in the cryptocurrency market. We might well see further growth and the establishment of new price levels due to such extensive interest.

Thanks again for taking the time to read this update. We look forward to seeing you next week!

Happy trading!

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