For the week of July 21 – July 27
Hello Hege fam, here’s a fresh weekly update from your favorite team. This week we announced a new listing on Bitrue Alpha, and unveiled the League of Hegends as the next step to make our community even stronger.
Let’s dive in!
Bitcoin consolidated for one more week
Let’s start with a short market update.
In tradfi, stock markets across the world had a good week and overall everything looks great. In the US, both the S&P500 and the more tech-heavy Nasdaq 100 closed at all time highs. There is simply nothing bearish about tradfi right now. Which is exactly where we want it to be for crypto to do well.
About Bitcoin, last week we had this to say:
“after having spent this week consolidating after the breakout, next up we’re looking for BTC to resume the rally in the week to come.”
This was obviously premature, as BTC spent also this week consolidating after its big breakout. The capital management firm Galaxy Digital announced on Friday that they had successfully completed the selling of over 80,000 BTC on the behalf of an early bitcoin whale. Part of this sale was likely what caused Friday’s dip.
The fact that the market could absorb an enormous sale like this and still not move down much is a very good sign. Looking at the bitcoin chart, it tells the same story: very much still bullish, with a conservative price target of $142k.
In the altcoin space, this week we saw a pullback across the board. So far this looks like a healthy correction, with nothing yet to suggest that the recent altcoin rally has peaked.
In summary, our view remains that this bull market is far from over, so let’s see what the next week brings.
$HEGE listed on Bitrue Alpha
In Hege news, we’re happy to announce that $HEGE is now available for trading on Bitrue Alpha.
After last week’s press release, Ollie took this opportunity to follow up with another round. This time the release was posted across 6 more traditional news outlets. It took some work to get Hege approved by these, but now that we’re approved, future postings will be easier. Having Hege featured in these places is great for us, and it’s something we will keep doing whenever we think the time is right.
The article itself is excellent. Go have a read and share it on all your socials!
Announcing: the League of Hegends
From day one, Hege has been a community effort — without our community, we simply wouldn’t exist. Because of this, we’re constantly thinking about how to make it stronger, and how to show our appreciation for all the amazing people in it.
So we came up with the concept of the League of Hegends. It will be our way of showing respect to the ones who time after time have shown selfless dedication to the Hege vision.
So what is this League of Hegends? It’s an exclusive league that holds the top-tier members of the Hege community. Starting out with three Hegends, over time the Hege team will keep selecting new members into the league, creating an ever-growing monument to honor all the amazing people who made Hege possible. Being selected into the league means having your name forever etched into Hege history, and it's the ultimate token of respect and appreciation.
The league can be viewed on the new League of Hegends page on our website. On this page, each person who has been selected into the league is displayed, represented by an artwork custom-made just for them, along with the reasoning for why they were picked.
Over time, more and more members will be added to the league, making it bigger and bigger. There will not be a fixed schedule as to when we will add new Hegends, but to get a rough idea, expect a new introduction every few weeks. And of course, every new pick will get their own custom artwork.
For the launch, Flo, Vector, and Ryan were selected for their outstanding contributions. Congratulations and thank you for your service, all the three of you are amazing!
Up ahead in the coming week
The $HEGE sticker contest continues, be sure to check it out if you haven’t already! Get all the details in the blog post.
Also we have a couple of small announcements lined up for next week. Just to be clear, it’s nothing major like a new CEX listing this time, but we think you’re gonna like them. So stay tuned!
Thanks for reading
And that’s all we’ve got for this week. Thanks for reading and may the Hege be with you.
Until next week,
— Team Hege
PS. If you’re not in our Telegram already, get in there! It’s always the best place to hang out and get the latest on what’s going on. Find the link here: https://linktr.ee/hegefund
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