Weekly Update: July 30th-August 5th, 2022
This week saw the crypto market in a downtrend, but nothing like the weeks prior, and general sentiment continues to improve. BNB is on quite an uptrend in contrast to Bitcoin and Ethereum. In tandem, Sphynx BSC has seen quite a rise up to around a $10 Million market cap at the high this week, consolidating to a current $8.5 Million floor after a massive $30,000 buy.
Sphynx CRO has been holding the floor nicely and has seen a small rise, and more CRO investors have become aware of a better alternative to MM Finance. Work continues to be done to grow connections in the CRO community and show why Sphynx is the best DEX on the chain, so it is only a matter of time until more growth comes.
Sphynx BRC has continued to trade sideways for the week but shows signs of a possible uptrend as the market recovers, as well as hitting a weekly high this week and holding.
Sphynx has also released a Brise bridge this week, which should make getting on the chain even easier. Users of the Sphynx platform can now bridge their Brise tokens on the BSC to the native version on BRC and back again, allowing easier trades with a bridge that works faster than any other. In addition, users can also bridge USDC and USDT stables to the BRC chain using the Bitgert Bridge. Lastly, Sphynx has pools availble for USDT and USDC paired with Brise for use on the Bitgert Bridge.
Sphynx has started to host more projects for AMAs to get the word out about their project, along with packaged AMAs for launching with Sphynx and having pools. In addition, outreach to other projects has become a major priority within the team to bring growth to those Sphynx works with and Sphynx alike.
Development of the dAPP continues with recent changes to make the trending pairs tab more prominent with the swap. Another Wallet Application update is also ready to be deployed, pending approval from Apple.
There is much more to come with Sphynx. 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!