Dear PointPay family,

End of the week signifies a time for reflection and a chance for you to catch up on all the latest news, updates, and changes in our Weekly Update!

PointPay News

Let's kick off with a range of different trading competitions. This week saw the conclusion of the trading competition celebrating the listing of SUI. A prize pool of $20,000 worth of SUI tokens was distributed among the lucky winners!

Additionally, new competitions were launched this week! The PXP Trading Competition started on Monday. Until May 13th, traders can compete for a prize pool of 250,000 PXP! There will be 5 winners! All the details can be found on the trading competitions page.

On Wednesday, PointPay started early celebrations for Pizza Day. This themed holiday, taking place on May 22nd, is linked to the amusing story of buying 2 pizzas for 10,000 BTC. To celebrate, several activities were launched, and the first one is the Pizza Day Trading Competition! Participants will trade until May 24th, when the top five traders will receive rewards from the $10,000 prize pool!

The second activity for the holiday is the Pizza Day Quiz. The rules are straightforward: complete tasks, and then five lucky participants will receive a $40 prize each randomly. The draw will only take place among those who complete all the Quiz tasks, available right here!

This Thursday marked the end of the active phase of the PXP Token Swap. Remember, it won't be possible to conduct it through the website or the app anymore. All remaining old PXP can be swapped by reaching out to our support until the end of 2024!

Wrapping up the news is the release of a new YouTube video! It's a short video guide on how to connect to the PointPay TestNet and receive free PXP for testing purposes. If you've been wanting to try our blockchain, this video makes it easier than ever!

Crypto News

The headline news of this week is the drop in the price of Bitcoin. After several attempts at growth and then stable prices, the asset fell to $57,500. Experts attribute this drop to a combination of factors. For instance, after the launch of Hong Kong ETFs, investors may have thought Bitcoin had reached its local peak and it was time to sell. Additional pressure came from the legal proceedings against the former head of Binance, who was sentenced to 4 months in prison.

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

Happy trading!

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