Bear Market Bites Bitcoin Unicorn Circle, Shares Plunge 80%: Report
At least one secondary market for private companies is trading some shares of well-known cryptocurrency-related companies at deep discounts from their highs last year.
Circle said in a blog post recently that three more companies – in addition to over 100 exchanges – have joined the USDC ecosystem.
“These companies join the nearly 100 exchanges, protocols, platforms, applications, wallets and service providers that are part of the USDC ecosystem. Since it was launched in the fall of 2018, USDC has been growing rapidly: Its market cap is over $300 million and it is the second largest stablecoin by market cap. It’s also a top 20 crypto asset.”
For one thing, an overall down market for cryptocurrencies makes the seas stormy for all related companies.
Circle claims to have done reasonably well during the sustained bear market of 2018, posting $24 billion in over-the-counter trades over the course of the year.
CCN article by P. H. Madore reduced by 72%
Related story: Bitcoin Hovers Over The $3,450 Mark As Top Cryptos See Slight Losses (cointelegraph.com)
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