Crypto Market Can Hit $1T in 2018, Kraken CEO Says

New optimistic cryptocurrency forecast; from Jesse Powell this time
13 March 2018   1252

According to the CEO of Kraken, Jesse Powell, in the remaining months of 2018, crypto-currencies can retreat from the lows and begin moving towards new highs.This is reported by Smartereum

In the crypto industry, many companies have appeared, many people are involved in business with crypto-currencies, and all this can lead to the market capitalization exceeding $ 1 trillion already this year, Powell said.

And this despite the fact that some crypto-currencies are falling, the total market capitalization can only increasing in annual terms.

The current aggregate market capitalization of all crypto currencies currently stands at about $ 417 billion, but until the recent recession, capitalization has reached about $ 800 billion.

Thus, if the total market capitalization can rise only 25% of the maximum, it can actually reach $ 1 trillion.

The main problem of growth of crypto-currency is the problem of regulation. If regulatory problems are not resolved in the near future, the number of traders, as well as investors in crypto-currencies, will decrease.

It is for this reason that it is necessary to use an appropriate regulatory framework, as well as trade mechanisms, writes Smartereum.

Kraken to Acquired Bit Trade

Bit Trade is the oldest Australian exchange, so, thanks to the deal, Kraken expects to strengthen its presence in the Asia-Pacific region
15 January 2020   127

The American bitcoin exchange Kraken announced the acquisition of the Australian Bit Trade crypto-trading platform, founded in 2013.

Thanks to the deal, Kraken expects to strengthen its presence in the Asia-Pacific region and become the largest cryptocurrency service in Australia. Last month, the exchange acquired an OTC platform of Circle.

Kraken also believes that the acquisition will strengthen its position in the field of over-the-counter cryptocurrency trading. 

Kraken intends to offer institutional and retail customers a single interface across multiple trading platforms.

In the short term, Bit Trade will continue under its current brand and operate business as usual.  As part of the acquisition we are pleased to welcome the Bit Trade team led by Jonathon Miller who will be Managing Director for Kraken in Australia.
 

Kraken

The representative of the exchange said that in the short term, Bit Trade will continue to work under its brand.