JPEX hosted an offline cocktail event in Philippines with the theme “Beat the Bear Market” to discuss the bear market trend and how to dispose it with a group of cryptocurrency practitioners. The event was attended by over 100 prominent KOLs from the cryptocurrency industry as well as several Philippine blockchain companies.
Beat the Bear Market was announced on JPEX in the last week of July. This was a three (3)-day event that came off in the first week of August in the Philippines with thousands of people joining via a webinar while industry experts were present at the main event.
The event did not disappoint as the live performance, raffle drawing, socializing, and networking promised came off on Thursday, August 4.
David Gomez (AirMedia NFT), James Afante (Astro XP), Coach Bluff (CryptoMind/HOC), AJ Perez (BAJ Speaks), and Marvin Favis (Cryptoverse) encouraged people to attend the program during the pre-event.
On the first day on Saturday, August 6, the mission of the JPEX trading platform was explained to attendees and was followed by the game plan required to beat the current bearish market trends of the crypto finance industry.
Out of the five (5) pillars of the introduction to trading and fundamental analysis, three were thoroughly explained and this proved to be an invaluable resource to unsophisticated traders and investors (those who throw money behind digital assets without doing any research about their underlying technologies).
On the second day on Sunday, August 7, a recap of DAY ONE’s activities was done. Right after that, the importance of the decentralized finance (DeFi) sector which has introduced above-average returns through decentralized exchanges (DEXs), decentralized lending platforms, insurance, and others were thoroughly explained.
Decentralized autonomous organization (DAO) which is becoming popular every day due to being an entity structure in which token holders participate in the management and decision-making of a particular entity was also highlighted.
As DAOs aim to be open platforms via which individuals control their identities and their personal data, industry experts cautioned attendees about the pros of being involved in this sector to help take control from big technology companies who have a stranglehold on our data.
Lastly, the potential of the newest cash cow in the industry today, play-to-earn (P2E) games which are categorized under gaming finance (GameFi) was also highlighted.
According to a new study by Absolute Report, the GameFi industry could be worth at least $2.8 billion in the next six years (2022 to 2028). There are several P2E game developers in the space currently from Sky Mavis, Dapper Labs, Decentraland, and Immutable to The Sandbox.
These developers do not only contribute to the gaming sector.
It also plays a significant role in the success of the non-fungible token (NFT) sector.
Ultimately, “Beat the Bear Market” did not disappoint as the event coincided with the revival of the market in the first week of August.
On August 1, the total market capitalization of the entire crypto industry was $1.05 trillion, and this soared by 2% to approximately $1.08 trillion (a $25 billion increase in seven 7 days).
Beat the Bear Market Ended with the Launch of JPC
After the event ended on Sunday, August 7, JPEX followed up with the launch of its native asset JPC which is an ERC 20 token (it is housed in the Ethereum ecosystem).
As of 8:15 p.m. (GMT+8), JPC was exchanging hands for $0.0011895 and continues to see millions of dollars in daily trading volume.
JPC can only be traded on the JPEX platform, as of August 2022.