Bitrue Bulletin | 15.5.2023–21.5.2023

Bitrue
4 min readMay 23, 2023

| 15.5.2023–21.5.2023 |

FETH Token Challenges PEPE, DOGE, and SHIB in Meme Coin Space — The dominance of meme coins like DOGE, SHIB, and PEPE is being challenged by the emergence of FETH (ETH Furbo), an Ethereum-based token. FETH offers PEPE reflections to all holders, providing them with double the profits. The token has announced its presale date, allowing investors to get in at the lowest price possible. The majority of FETH’s token supply will be available for presale, ensuring community control and an even distribution of supply among investors.

Bitcoin Price Faces Volatility and Potential Losses — Bitcoin’s price experienced volatility, reaching $27,200 on Bitstamp, reflecting gains of around 7.5% compared to the week’s lows. Analysts are cautiously optimistic, waiting for BTC to surpass $27,200 as a trigger for further upward movement. However, some warn of potential CME Bitcoin futures market gaps opening up if BTC holds its current prices. The weekly close below $27,550 could indicate further downside for BTC.

Apple’s Mixed-Reality Headset Expected to Impact Metaverse Tokens — The upcoming release of Apple’s mixed-reality headset has generated excitement in the metaverse industry. Speculation suggests that the launch could lead to increased prices for metaverse tokens. While the full potential of the metaverse is still a long way off, the release of Apple’s headset is expected to drive market activity. The performance of metaverse tokens like MANA and SAND will depend on the widespread adoption of the metaverse among everyday users.

Visa Deploys Paymaster Smart Contract on Ethereum Testnet — Visa’s head of crypto, Cuy Sheffield, announced the deployment of Visa’s first paymaster smart contract on the ETH Goerli testnet. Visa is actively researching and experimenting with account abstraction and ERC-4337. The paymaster smart contract could be a significant driver of growth for the Ethereum ecosystem. Visa has also published a report on its experiments with ERC-4337, exploring the potential use cases of a new Paymaster flow, including covering gas fees for transactions.

Tether to Buy Bitcoin for Stablecoin Reserves — Tether, the issuer of the largest stablecoin USDT, has announced a new investment strategy that involves regularly buying bitcoin for its reserves. Up to 15% of realized profits will be allocated to purchasing BTC, aiming to strengthen and diversify stablecoin reserves. Tether will custody the BTC stash independently. This move comes after Tether disclosed holding $1.5 billion of BTC and $3.4 billion of gold among its assets, with the majority of reserves in cash and cash-like assets.

$GALA New User Exclusive Staking now available — up to 6% APR Daily Payouts in Power Piggy

$PEPE New User Exclusive Staking now available — up to 10% APR with no lock-up period in Power Piggy

$NEAR Staking now available — up to 7% APR Daily Payouts in Power Piggy

$LUNA Staking now available — up to 2% APR Daily Payouts & 5% APY with a 30-day lockup period in Power Piggy and Yield Farming

In conjunction with $LOVESNOOPY’s listing, Bitrue is having a Deposit Contest — Users can stand a chance to win a share of the 125,100,000,000 $LOVESNOOPY prize pool just by depositing $LOVESNOOPY. More details here.

Read about the Highlights From Bitrue x Gala Game’s “Ask Me Anything” Session on Twitter Spaces here. In another installation of Bitrue’s “Ask Me Anything” session on Twitter Space, we invited a special guest, Jason “BitBender” Brink, the President of Blockchain Gala Games, to share some insights about the highly anticipated project.

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Bitrue

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