- USD $40 billion has been wiped off the crypto market within the final 24 hours following bitcoin’s worth falling beneath USD $ 30,000.
- The worldwide blockchain market is predicted to succeed in a price of roughly USD $23.3 billion by 2023.
- The market measurement for cryptocurrency is projected to exceed 1.08 billion by 2026 in keeping with business stats.
The worth of Bitcoin dropped beneath USD $30,000 for the primary time since 22 of June, 2021, resulting in business analysts extrapolating the possible market-shifts that can possible comply with in relation to different outstanding cryptocurrencies.
Regardless of the aforementioned plunge, Bitcoin stays over 200% over its worth in June of 2020, and stays up roughly 2.3% for the 2021 fiscal yr.
The drop within the worth of Bitcoin was unequivocally a direct results of the current Stop and Desist Order issued by the New Jersey Legal professional Basic in opposition to BlockFi- a United States primarily based cryptocurrency providers company.
The order basically meant that the corporate was mandated to omit any interest-bearing accounts presents. This has been confirmed by Zac Prince- the corporate CEO through twitter, in addition to by Forbes Journal.
The plunge was additionally seen following a fairly giant sell-off in international inventory markets on Monday, with the Dow Jones Industrial Common ( a price-weighted measurement of 30 outstanding firms throughout the US inventory trade market), at its lowest ever level since October of 2020.
Having mentioned that, it ought to be famous that the relative cryptocurrency markets affected did recuperate a lot of the losses incurred on Monday the subsequent day (Tuesday, twentieth, July), which is probably going indicative of each: a) the rising resilience of the Cryptocurrency sphere, and b) the rising significance of cryptocurrencies aside from Bitcoin.
Coinsuper, for instance, has been thriving as of not too long ago. Based mostly in Hong Kong, the roughly three-year outdated cryptocurrency trade has weathered fairly a couple of storms together with ones that noticed neighbouring cryptocurrency platforms lose over 80% of their attained market cap- illustrating an unrivalled diploma of resilience and reliability alongside the best way.
Beneath we are going to talk about Coinsuper’s new partnership with outstanding platform FENIX360- delineating priceless business insights within the course of.
A Current Partnership?
The aforementioned weathering of Coinsuper has positioned the outstanding platform in a really priceless place in keeping with its co-founder (Karen Chen), who has not too long ago argued that the crypto platform is in an ideal place to steer its enterprise in direction of institutionally recognised, international 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.