Circle May Lost $2B of Capitalization

Expert says his could be the result of a number of acquisitions and a bear market
05 February 2019   1285

The operator of the cryptocurrency exchange Poloniex, the investment application Circle Invest and the developer of the stablecoin USDC Boston startup Circle could lose more than $ 2 billion of capitalization in the last nine months, The Block reports.

At the moment, private stocks of the company on the SharesPost platform are trading at $ 3.80. It is not yet known how many shares are offered at this price and whether successful transactions have been made.

In May 2018, Circle's share price was $ 16.23 with a capitalization of $ 3.01 billion. If the current SharesPost quotes reflect the real situation, then the company's value fluctuates around $ 705 million.

Sources of publication in one of the hedge funds stressed that this could be the result of a number of acquisitions in combination with a bear market.

Other market players noted that Circle Trade's OTC-service provides most of the company's revenues, in which the trading volume in 2018 reached $ 24 billion. The focus on prop-trading, they say, complicates the company's objective assessment at this stage.

Bitifinex to Cooperate With Bitrefill

Exchange's users will be able to purchase products from the Bitrefill catalog with help of Lightning Network
05 December 2019   51

The Bitfinex cryptocurrency exchange has entered into a partnership with the service of replenishing mobile accounts and gift certificates Bitrefill.

Using Lightning Network (LN) technology, Bitfinex users will be able to purchase products from the Bitrefill catalog, which includes more than 2,000 digital gift cards and options for replenishing mobile accounts.

As soon as the user pays for the goods using Bitcoin, Bitfinex and Bitrefill automatically settle through the LN network, which makes transactions cheaper and much faster.

Bitcoin’s use as a means of payment represents an important milestone in the inevitable journey towards mass adoption. This is why the Lightning Network is so important. As an exchange, Bitfinex is at the forefront of developing solutions utilizing this technology.
 

Paolo Ardoino

CTO, Bitfinex

On December 3, Bitfinex integrated payment support through the Lightning Network.