Cryptocurrency exchanges are betting …


Best Cryptocurrency Exchanges of 2021 (in 2 minutes)

Cryptocurrency exchanges are betting ...

Cryptocurrency exchanges bet on bitcoin volatility and growth

  • Cryptocurrency Industry Prepares For Rising Volatility Ahead Of Halving

  • Cryptocurrency exchanges expand their staff in anticipation of the influx of new customers

  • The cryptocurrency market continues to live according to the laws of short-term speculation

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The coronavirus pandemic has left many people without work, but the cryptocurrency labor market is reigning in a revival and a hunt for personnel: crypto exchanges are preparing for the Bitcoin pump and expanding their staff

Exchanges are preparing for halving

Cryptocurrency exchanges are betting ...

Many cryptocurrency exchanges and companies operating in related industries – for example, ensuring the safety of user deposits or providing loans to them – are preparing for an influx of new customers. The closer the third halving of bitcoin, the higher the interest in cryptocurrencies from investors. This means that the work of the exchanges will increase.

In the past, the decline in block rewards has been accompanied by a powerful and prolonged rally in the bitcoin market. And this time, investor interest in alternative assets is fueled by instability in traditional financial markets amid the coronavirus pandemic.

According to Nick Carter, co-founder of cryptocurrency analytics firm Coin Metrics, Bitcoin halving halving is cutting the number of new coins miners create and earn by half. This happens roughly every four years and … More helps create excitement, however, the general increase in awareness of cryptocurrencies in society plays an important role..

Who is the war …

The number of unemployed people around the world continues to grow. In the United States, the number of applications for unemployment benefits filed in the past six weeks has exceeded 30 million. Coronavirus and quarantine measures have crippled businesses, forcing companies to lay off staff. According to the Ministry of Labor, the number of primary unemployed for the week of April 25 reached 3.84 million.

The labor market crisis has not spared the cryptocurrency industry either. The number of job openings in the industry has plummeted, with just 84 job postings posted on in April this year. For comparison: last April there were 300 of them. Earlier, the BeInCrypto editorial staff reported about a wave of reductions in BitGo.

… and to whom is the mother dear

However, cryptocurrency exchanges stand apart. Earning from trading commissions, they thrive in times of high volatility. Therefore, for the bottom, 2020 was literally a bonanza. Over the ten days of March – from 6 to 16 – bitcoin fell by 46%, but trading volumes increased more than twenty times. If the market continued to fall, trading activity is likely to decline. But no, bitcoin resumed its growth and recovered quickly.

Cryptocurrency exchanges are betting ...

Now, many exchanges are waiting for an influx of investors who do not want to miss the halving fever. After the first halving, Bitcoin has risen in price by about 1000% in a year. A similar growth was recorded in 2016, when cryptocurrencies began to gradually go out to the masses..

The American cryptocurrency platform Kraken was going to increase its staff by 250 this year, but changed its mind and decided to hire another 350 people. Binance, which already employs more than 1,000 employees, increased its workforce by 25% in the first quarter and is looking for new staff for its mining division, Binance Pool, which launched in April this year. Cryptoexchange OkEx is also expecting a staff replenishment in May. Coinbase has dozens of jobs open.

“This speculation surprises me, because everyone has long known what is going to happen and everything is already included in the price,” says Lex Sokolin, co-CEO of ConsenSys. “But the cryptocurrency market is still irrational and focused on fast money. And cryptocurrency exchanges rely on these speculations and based on this form their personnel policy “.

Do you think that trading activity on crypto exchanges will really increase after the halving? Share your opinion in the comments.


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