- USD $40 billion has actually been rubbed out the crypto market in the last 24 hr following bitcoin’s rate falling listed below USD $ 30,000.
- The worldwide blockchain market is anticipated to reach a worth of approximately USD $23.3 billion by 2023.
- The marketplace size for cryptocurrency is forecasted to surpass 1.08 billion by 2026 according to market statistics.
The worth of Bitcoin dropped listed below USD $30,000 for the very first time because 22 of June, 2021, causing market experts theorizing the most likely market-shifts that will likely follow in relation to other popular cryptocurrencies.
Regardless of the previously mentioned plunge, Bitcoin stays over 200% over its worth in June of 2020, and stays up approximately 2.3% for the 2021 .
The drop in the rate of Bitcoin was unquestionably a direct outcome of the current Cease and Desist Order released by the New Jersey Chief Law Officer versus BlockFi- a United States based cryptocurrency services corporation.
The order basically indicated that the business was mandated to leave out any interest-bearing accounts deals. This has actually been verified by Zac Prince- the business CEO through twitter, in addition to by Forbes Publication.
The plunge was likewise seen following a rather big sell-off in worldwide stock exchange on Monday, with the Dow Jones Industrial Average ( a price-weighted measurement of 30 popular business within the United States stock market market), at its most affordable ever point because October of 2020.
Having stated that, it needs to be kept in mind that the relative cryptocurrency markets impacted did recover the majority of the losses sustained on Monday the next day (Tuesday, 20th, July), which is most likely a sign of both: a) the growing durability of the Cryptocurrency sphere, and b) the increasing value of cryptocurrencies besides Bitcoin.
Coinsuper, for instance, has actually been flourishing since just recently. Based in Hong Kong, the approximately three-year old cryptocurrency exchange has actually weathered numerous storms consisting of ones that saw neighbouring cryptocurrency platforms lose over 80% of their achieved market cap- highlighting an incomparable degree of durability and dependability along the method.
Listed below we will talk about Coinsuper’s brand-new collaboration with popular platform FENIX360- defining important market insights at the same time.
A Current Collaboration?
The previously mentioned wear and tear of Coinsuper has actually positioned the popular platform in a really important position according to its co-founder (Karen Chen), who has actually just recently argued that the crypto platform remains in an ideal position to guide its company towards institutionally acknowledged, worldwide leaders.
Fenix360’s has recently announced an exciting partnership with Coinsuper, declaring that they will conduct their much-awaited AMA (Ask Me Anything) with the prominent cryptocurrency company. This is rather unsurprising, particularly since the emerging FENIX coin has been listed at Coinsuper for approximately half a year, experiencing prolific growth.
The key subject of the Ask Me Anything will be titled ‘’A New Era for Artists, A New Era for Utility Tokens’’, and will include a plethora of coin holders, supporters, and interested third-parties.
Coinsuper: An Unparalleled Trading Engine?
Coinsuper is a Hong Kong based virtual asset trading platform and self-regulated custodian. The company offers a powerful trading engine to its significant consumer base, providing: liquidity for a plethora of cryptocurrencies, fiat on and off ramp infrastructure, custodial services for storage, and security facilities to safeguard investor assets.
Since its initial establishment back in 2017 (roughly four years ago) Coinsuper has arguably heavily contributed towards the industry’s shared vision of democratizing financial markets and making cryptocurrency investment safe and accessible in a global context.
FENIX360’s Prolific Growth
FENIX originally began building its blockchain ecosystem back in 2018.
From the get-go, it was designed to facilitate the earnings of all musicians on the platform who had a dedicated following, however small or large.
The guiding principle of the company- that has been credited for its significant growth in the last couple of years, has always been that FENIX should provide all revenues to the artists themselves apart from the modest percentage necessary for running the FENIX business.
This ensured a much-wanted ‘win-win’ situation between the artists and FENIX360, and consequently began the formation of a very favourable environment for both parties.
FENIX continues to create new tools so as to allow their Artists to enhance their earnings to this day, and has spent a significant amount of time refurbishing the core features of their ecosystem- leading to the development of their unique App.
Above we discussed recent industry trends, as well as FENIX360’s recent association with Coinsuper, we hope you enjoyed reading.