Currency.com, one of the high-growth European crypto trading platforms, has reported a strong rise in its client base as well as trading numbers for the first half of 2021.
The company has reported a growth of 130% in the number of new clients who have opened an account with the platform in H1 of 2021 as compared to H2 of 2020. There has also been a big surge in the trading volume with the volumes growing by 197% as compared to the second half of last year. The trading frequency has also increased in the platform with the number of trades made on the platform in the first half of 2021 growing by 968% as compared to the H2 of 2020. All this points to a growing interest in the platform and a return to pre-pandemic levels in the due course of time.
Vitaliy Kedyk, Head of Strategy at Currency.com commented: “Our data shows that global adoption of cryptocurrency is firmly entrenched, showing no signs of slowing down. More global regulation, growing institutional interest, and the ongoing search for alternative sources of returns in a low-interest-rate environment are lending support to the burgeoning asset class. More people are turning to cryptocurrencies. As a platform authorized and licensed to provide Distributed Ledger Technology services, Currency.com is well placed to support investors in their journey.”
Dogecoin was the most traded crypto in the platform in the first half of this year along with Bitcoin, Ethereum, XRP, Litecoin, and others. During this period, the company added 19 ERC-20 and DeFi tokens to the platform in response to the needs of its users and it is expected that the company would be adding many more in the coming months.
The numbers that were released by the company should be taken with a pinch of salt though, as the numbers are being compared to last year when the world was in the grip of a pandemic and the interest to join new platforms or do trading at that point of time was very less considering that the whole world was facing a huge risk and people were looking to save up their funds rather than trying to trade or invest. But that seems to be changing as of this year as the pandemic recedes and we are seeing many platforms reporting volumes that are close towards the pre-pandemic levels but showing a huge spike when compared to last year, which is pretty much understandable.