Weekly Update: May 13th- May 19th 2023
The market this week can best be described as stagnant. Given everything going on in the world, stagnant is better than dumping, so we can be thankful for that. Bitcoin, Ethereum, and BNB are only up less than .5% each this week from the last, but positive is positive. Given all the recent news of impending US crackdowns on what seems to the industry as a whole, this is about as good as we can hope for. The future is not grim however, crypto in general is unstoppable at this point and we will find our way through the other side. Current live standings at the time of writing this are as follows:
BTC: $26,898.10
ETH: $1,814.16
BNB: $309.08
Another potentially controversial opinion is that signs are quite bullish due to the “Meme Renaissance” we are seeing lately. It seems everyone wants to be the next Pepe. Whether memes are good for us as a whole is debatable, but it is hard to argue that they aren’t good from at least a short term perspective for getting hype built again and people investing.
Sphynx is doing well this week in spite of a slight delay on the release of the Sphynx Pay Visa Card. As anyone can tell you, development time should be taken with a grain of salt. This time the issue was with our supplier for the debit cards. We are the first to be implementing this new tech which is both very exciting, and also means that cutting edge sometimes means minor issues. However, that issue has been fixed, and we are looking to go live soon so stay tuned.
In extremely bullish news, the first of our two exchange listings for this month has been confirmed! Listing info will be posted on the 24th, with trading going live on the 31st. The dates are fixed from their end and a massive campaign will be rolled out by them to bring $SPHYNX to an entirely new audience. Lonzo hinted that the exchange is a four letter word, so feel free to speculate on which one is coming.
The bridge V2 is also expected to go live very soon. This will essentially act as a cross chain swap to trade any two tokens across our supported networks. Having an even simpler process for people to move between chains is just another step in our mission to make crypto accessible to everyone.
As a reminder, here is our tentative outline for May as a whole.
“May 2023
- Bridge V2 (e.g Swap BNB on BSC to ETH on Ethereum directly)
- Visa card (Virtual & Some Physical) - ̶M̶a̶y̶ ̶1̶5̶t̶h̶ (Just Kidding, May though)
- 2 Blockchain Integration
- Hyperpool in Sphynx DeFi App
- 2 Centralised Exchange listings
- New feature added to Sphynx DeFi App to expand our reach.
Depending on market and our situation, the plan is also to add:
- 2x New Pairs
- 2x New Hyperpools”
As always, 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
Aegis Sphynx Mint: https://thesphynx.co/council/56
Website: https://sphynxlabs.co
Telegram: https://t.me/sphynxlabs
Twitter: https://twitter.com/SphynxLabs
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
