Bit.com May Roundup — Hope in a sea of red

The month of May has been a rather nerve-wrecking period for the crypto community, as we witnessed the UST/LUNA fallout, which was followed by a majority of coins seeing red. All of the top 10 coins by market capitalization, except stablecoins, were down in May.

There are many indicators, though, to suggest that the market continues to be bearish. WoW dominance has risen, multiple fresh fundraising rounds with record valuations were disclosed, and a handful of high-profile firms increased their war chest. So yes, we believe that better days are coming.

Let’s have a look at what’s happened in the past month as we look forward to greater performance in the coming weeks.

IMPORTANT NEWS YOU MIGHT HAVE MISSED

Bit.com supports Terra (LUNA) airdrop

Bit.com will complete the token renaming, and will distribute 100% of the airdrops received to eligible users. Users who hold LUNA on bit.com at the snapshot time (May 26, 20:00 UTC) will be eligible for the new LUNA token airdrop, details of the airdrop timing, implementation plan and number of airdrops will be announced separately. Read more

Ethereum POS transition hiccups

The POS beacon chain of Ethereum (the main chain after a successful POS transition) had a 7-blocks reorg after a client update boosted some clients but caused confusion among validators who hadn’t upgraded. Read more

FTX enters stocks

FTX announced launching traditional stock investment services on their platform. Accounts will be free, with no trading fees, and also offer fractionalized shares — just like Robinhood. Other crypto exchanges had tried to offer stock tokens last year but quickly pulled back after harsh backlash from regulators. However, FTX is well funded and connected with US law and policy makers and they may have found a way to make it work. Read more

US Treasury Secretary Janet Yellen calls for regulation of stablecoins

Yellen expresses hope that Congress will pass legislation this year to create regulatory framework for stablecoins after TerraUSD stumble. Read more on WSJ

Gucci to accept BTC, crypto in some U.S. boutiques

Luxury fashion-house Gucci announced it would begin accepting bitcoin in physical stores. The feature rollout is a pilot beginning in five U.S. locations with plans to extend it to all stores in North America directly owned by the company. Read more on Bitcoin Magazine

How to create an RMM strategy

Our latest video tutorial on Rebalancing Market Marker (RMM) strategy is out now on Youtube. Learn how to automate your trades and rebalance your portfolio with easy and quick steps on the Bit.com platform. Watch the video now

SWITCH ON TO CRYPTO PROMOS

Invite your buddies and get a chance to share from a $10,000 prize pool

Are you ready for Bit.com’s “Bring A Buddy Challenge”? To thank you for your continued support, invite your friends and stand to share from a prize pool of up to $10,000 USDT. If you refer your friends, you can also earn up to 50 USDT. See details here

Trade Spot on Bit.com and stand to win up to $3000 USDT rewards

Trade spot pairs on Bit.com and win! The more you trade, the more rewards you’re entitled to! Daily rewards per person go up to $100 USDT, up to $3000 USDT per month! Register now

Bit.com now supports TON with 200% APY savings

Bit.com now supports deposit and withdrawal for TON native token TON on its native blockchain. For a limited time only, we have also launched a 200% high APY savings product for TON users. More details here

Free BTC when you check in daily on Bit.com’s app

Just checking in to the Bit.com app daily entitles you to a chance to win free Bitcoin, up to 10,350 Satoshi every week. Log in now

SuperSIZED Madness: Get 80% APY Only On Bit.com

In the Bit.com multiverse, things never stay the same for long. They tend to get bigger, better and larger than life. That’s right folks, this time round, we’ve bumped up our 30% APY on Savings to a MASSIVE 80% APY! Download our app now!

Trade Futures Challenge, 10,000 USDT for Grabs!

During the month of June, users can sign up for the activity and trade any USDT-margined futures in any amount to share the $10,000 prize pool. The more days you trade, the more rewards you can get. Register here

Our Podcast is LIVE!

Tune in to our podcast A Bit of Banter on Apple Podcasts, Google Podcasts, or Spotify to catch up on the latest crypto news and expert advice on your way to work or play! Listen now

Our Ambassador Page Gets a Fresh New Look

We’re always looking out for ambassadors to expand the crypto community and we’d love to have you join us. Get privileged access, high bonuses, and a monthly salary! Check out our new page now

COMMUNITY ACTIVITIES

Replay our Terra discussion on Twitter. Burn or fork $LUNA for the new future.

Missed out on the action? Tune in to our May 19 #TwitterSpace discussion. Listen now.

Congratulations on your free crypto!

We ran a #FreeCrypto campaign on Twitter during the month of May and we’re happy to give away 20 USDT each to 5 lucky winners. They simply followed, retweeted, tagged, and liked! Names to be announced soon. Yes, it’s that easy. Join our Twitter community for your chance to take part in our next giveaway! Follow us here

#AMAsession Project Galaxy

On May 16, our community had an Telegram Ask Me Anything (AMA) session with Project Galaxy’s Head of Client Relations, Joanna Goh. We received many questions from our followers, and Joanna gave great answers on topics surrounding security, the Project Galaxy community, short-term prices VS long-term value, and more. Follow us on Twitter so you don’t miss the next AMA with Bit.com.

NEW LISTINGS ON SPOT TRADING

FTM/USDT

NEAR/USDT

ENS/USDT

OMG/USDT

GAL/USDT

ENJ/USDT

GALA/USDT

MKR/USDT

NEW LISTINGS ON USDT-M FUTURES

XRP/USDT

BCH/USDT

GMT/USDT

SOL/USDT

DELISTINGS

Robofi VICS/USDT

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Bit.com is a highly secure and liquid derivative exchange. It offers perpetual swap trading with up to 50x leverage and option trading with up to 10x leverage.