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

New optimistic cryptocurrency forecast; from Jesse Powell this time
13 March 2018   130

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.

Web Traffic for Major Exchanges to Decrease Double

Estimates of the total number of visits to the trading sites based on web traffic show a sharp decline
23 March 2018   85

After the peak of attendance of crypto exchanges, which occurred in December-January, in February, users began to visit them twice more rarely. The same level of attendance was observed in November 2017. This is reported by with reference to the data of the Similarweb service.

So, if in December, 169.5 million visits were recorded at the Coinbase, and in January -123.5 million, in February their number fell by 49% to 63.1 million.

Coinbase Traffic
Coinbase Traffic

The indicator of Binance sank by 54%: from 191.5 million to 87.3 million visits.

Binance Traffic
Binance Traffic

Bitfinex had a 48% decrease from 35.4 million in January to 18.1 million in February, although back in December the exchange had 59.3 million user visits.

Bitfinex Traffic
Bitfinex Traffic

Kraken lost more than a half of its traffic for one month - 31.7 million visits in January dropped 13.8 million in February.

Kraken Traffic
Kraken Traffic

According to experts, the decrease in attendance is due to a decline in activity in the crypto-currency market in early 2018. In addition, traffic data on exchange sites may be associated with a general decrease in the number of transactions in the bitcoin network.