Sphynx Weekly Update: Week of September 18th 2023
It would seem the market is in much the same place we left it during our last update, still in fear, still in the same ballpark as far as prices. The SEC in America continues to take Ls as Binance is reportedly refusing to cooperate and has filed to dismiss the lawsuit. This comes after a US judge refused the entity’s request to inspect Binance US. One could argue something seems up with Binance however after a massive round of layoffs at Binance US. The SEC has also stated more litigation is coming to even DeFi so prepare for the crusade, not that they seem very competent.
Watcher Guru reports that 95% of the NFT market is now absolutely worthless, coming as a shock to almost no one. Who knew expensive jpegs with no real utility behind them might be a bad idea overall? Sorry, not sorry. Time will tell if NFTs regain their place in the annals of history after some potential innovation.
On other news J.P. Morgan stated that Ethereum has been “disappointing” since the Shanghai Update noting a distinct drop in network activity due to “bearish forces.” ETH maxis and degen players on Ethereum would likely agree. In total it would seem we have yet to recover from a very tumultuous year in the crypto world. He is hoping we are headed for better days.
Current live standings at the time of writing this are as follows:
So what has the team at Sphynx Labs been doing during this time? In short, making moves in silence and building out more utility.
Firstly, we are proud to announce that the physical SPay Crypto Cards can now be ordered directly on the website. It has been months in the making to get to this point, and we are very excited for everyone to get their cards and start showing them off.
A full breakdown of the card and application can be found here: https://thesphynx.co/cards
SPay is also growing to target business users now as well with the SPay API. This API allows any e-commerce business to quickly and easily start accepting crypto currency as payments for goods and services directly without the need to convert to fiat beforehand. Sphynx Labs helps with the integration on the site, and offers 24/7 support forever to the merchant absolutely free. It is our belief that crypto adoption takes a holistic approach where we must make it as easy as possible to bring crypto into the future, and this is just another way we are working to make that happen. SPay is also available for in store purchases as well with a simple integration at the POS, more on that shortly.
Many of you have been asking wen burn, wen ETH Pair, and wen CEX. While we can’t give you a set date due to the nature of the industry we are in, we can say that the upcoming weeks look very promising. We have been spending so much time planning the perfect execution of the ETH Pair and CEX listings and the moment grows ever closer. Spooky Season is Sphynx Season.
Lastly as a reminder, the Telegram community was recently moved to a new channel. We did this to allow for a cleaner and more well protected group as we are expecting an influx of members once we launch the ETH Pair.
As we always say, good things take time. We are working to make sure everything we do is made well and released at the right time. We are very excited to get to everything on our list, and we are sure you guys are excited to see it.
Thank you to everyone that believes in Sphynx Labs and the team. We are rolling forward full steam with things no one else is even trying. Once the world knows of us, there is no stopping the train.
Stay tuned for Sphynx’s Weekly Updates posted every Friday, or be informed on the Sphynx Telegram, Twitter, and Instagram pages.
Thank you for reading, and have a great week!
Sphynx Labs Links
Sphynx Mobile App on Apple App Store: https://apps.apple.com/app/sphynx-defi-app/id1626361848
Sphynx Mobile App on Google Play Store: https://play.google.com/store/apps/details?id=com.sphynx