PointPay Weekly Update (29 January - 02 February)
Dear PointPay family,
Happy Friday! As we embark on our weekly update, let's delve into the latest happenings at PointPay and explore the intriguing developments in the crypto sphere.
PointPay News
In our ongoing effort to keep you informed, we've meticulously transcribed the recent AMA session with PointPay CEO Vladimir Kardapoltsev. On January 25th, Vladimir not only summarized the highlights of January, but also made exciting announcements and provided an overview of upcoming events. This wealth of information is now available in a comprehensive article on our blog. You can access the detailed transcript here.
As we bid farewell to this week, we eagerly anticipate announcing the winners of our Masters USDC Trading competition. The top five participants are set to receive their well-deserved rewards from the $50,000 prize pool, all processed automatically.
For those with a keen interest in future Trading competitions, keep a close eye on our updates. February promises significant global dates, and we're gearing up to launch new competitions during this period. Stay tuned for the announcement of terms at the commencement to ensure you don't miss out.
Keep up to date and seamlessly manage your assets within the PointPay ecosystem with our mobile app. From performing various actions to receiving notifications of account activity and exciting news, the app is your gateway to effortless asset management. You can easily install the app from the links at the bottom of the email or directly from our website.
Stay informed, manage your assets effortlessly, and experience the future of digital finance with PointPay app!
This week brought another exciting development as we listed a new trading pair on the PointPay Exchange. Now, users can engage in ADA/USDC trading, expanding their options to include USDC, USDT, and BTC. Feel the thrill of the markets — try it out for yourself!
Crypto Sphere News
Shifting our focus to the broader crypto landscape, Bitcoin holders experienced a moment of respite this week. The downward trajectory initiated by the ETF launch has finally come to a halt, with BTC rebounding to approximately $42,700.
Two pivotal factors have contributed to this reversal. Firstly, Google, the largest advertising platform, revised its policy towards cryptocurrency products, opening the door for financial organizations to advertise Bitcoin ETFs. This move is poised to usher in a new wave of ETF investments.
Secondly, analysts report a cessation in the outflow of investors from GBTC (Grayscale's Bitcoin fund). Since the ETF launch, investors have been divesting from GBTC, causing market pressure and a gradual decline in asset prices. However, this trend has reversed, and BTC is now regaining its value.
Looking ahead, Bitcoin may see gradual appreciation as it gears up for the upcoming Halving, which is approximately 75 days away. The Halving event historically triggers significant growth for BTC as miner block rewards are halved, a pivotal moment driving Bitcoin towards further gains.
Thanks again for taking the time to read this update. We look forward to seeing you next week!
Happy trading!
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