Merry Christmas From All Of Us At BitPrime

Recap of the Last Month

Since the start of November, the cryptocurrency market has continued to slide, with very few winners. The last six weeks have seen the biggest collapse of prices since 2011. To some, this has been a painful period if you have been following the markets. For others, it has represented an opportunity. I for one have certainly had some sleepless nights recently.

 

Silver Lining

Is there a silver lining? While prices have taken a big hit many indicators assessing adoption and network transaction volumes have increased. EOS has grown its on-chain transactions significantly, by 670%. At the beginning of 2018 EOS' daily transactions averaged no more than 10,000 per day. Since then its transaction volume has exploded to around 6,700,000 per day. At the time of writing, EOS has 208 DApps, and that number is growing by the day. Newcomer, WAX, has seen similar growth now boasting around 5,600,000 transactions per day. TRON's on-chain transactions have increased from 1,000 per day at launch to approximately 600,000 now.

 

The Current State of Crypto

If you would like to learn more about the state of the sector take a look our blogs including regular market analysis in #Rehashed and The Future of Stablecoins. A 'must read' is Court's parting contribution of The Current State of Cryptocurrency Banking in New Zealand. While we contacted the PR teams of all the major banks, most didn't bother to reply. If you would like some more in-depth reading over the holidays the seminal report The State of Bitcoin: Long-Term Value Potential & Analysis, from Delphi Digital and the new book "Tokenomics" co-written by New Zealand's own Sean Au are well worth reading.

 

Welcome!

This month we welcomed some new team members. Oliver is taking over as product manager of our markets division. While a newcomer to the cryptocurrency sector, his experience in economics and international finance make him an excellent addition to the team, Henry has joined us as a crypto solutions analyst having had previous roles in both business banking and the insurance industry. Please introduce yourselves to them if you see them on live chat or at investor evenings.

 

BitPrime's Christmas Hours

I hope you are planning on taking some time off with family this Christmas. A number of our staff are taking time off, but our trading desk will be open as usual, including on Christmas day. However, on statutory holidays Live Chat will be closed as well as our compliance team. We will still address urgent support requests from existing customers on the stat days. If you are looking to open an account to take advantage of the current entry prices, please do this in advance.

 

From all the team at BitPrime, I wish you a Merry Christmas and a happy New Year.

 

-- Ross Carter-Brown, CEO

 

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