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The buzz in the market is the Pound and the Euros fall to a new all-time low against the US dollar. 10 year gilt yields soared by 131 basis points in September. This bloodbath is being attributed to a number of macroeconomic factors, such as higher than expected CPI data and possibly the fastest Fed rate hike in 40 years which led to $432M in liquidations during the recent week. Even Ethereum slumped to $1295 after the merge. Investors' faith was tested and then shredded as the market fell past key psychological levels before reversing course.
In order to reimburse futures traders during this brutal bear market, FAMEEX cryptocurrency trading platform, held its latest event; 100,000 USDT Prize Pool: Crypto Bear Market Lifesaver. Already, after just 10 days, FAMEEX reported distribution of 100,000 USDT to all traders who suffered from a daily loss while futures trading on the platform. The Crypto Bear Market Lifesaver event garnered significant participation from the FAMEEX community. For the next phase of the campaign, FAMEEX decided to increase the prize pool so even more users could take part!
The 90-day Crypto Bear Market Lifesaver campaign aims to improve the prospects for day traders and rebuild confidence. FAMEEX company’s core values of care and empathy with traders help us endure this crypto winter together. To reward traders, FAMEEX has set up a prize pool each day on top of the basic prize pool which will be shared among futures traders to subsidize their loss. Up to 1000 USDT will be up for grabs each day, the only requirement is to trade futures with a daily net futures loss of more than 1 USDT. During the event, anyone with a net futures loss of more than 1 USDT is eligible to participate. This event is a demonstration of FAMEEX's ambition to attract more traders.
FAMEEX has established itself over the past 2 years in the crypto derivatives market and is consistently operating in the futures trading broker sector. Always Following the philosophy of "Secure global crypto exchange with quantitative trading", FAMEEX aims to offer its users comprehensive and secure trading solutions, integrating decentralized finance (DeFi) with centralized finance (CeFi) in the futures roadmap.
Currently, FAMEEX has users in over 50 countries and is undergoing rapid expansion of the userbase. FAMEEX co-founder explained, "Despite the recent macro downturn, the market is still rife with growth opportunity. Our strategy for the future incorporates numerous developments in tokenomics and we foresee a key role for enabling web3 in the next transformation of FAMEEX."
FAMEEX is a reliable crypto exchange broker which operates under a policy of transparency and fairness. Moreover, the trading platform offers a high level of sophistication, with plenty of engaging trade choices to help traders accomplish their goals.