Cryptocurrency

Activity of the casas de cambio latino has grown during crisis by coronavirus

Key facts:

In 2gether, the volume of trade increased from EUR 226.000 daily to more than EUR 760.000.In Panda, inactive users resumed their activities on the platform in the last few days.In the midst of the fall of the international markets, exchange houses of cryptocurrencies have begun to experience an increase in the activity of their users. Not only has there been a higher volume of trade, but the incorporation of new users has also increased, according to report some platforms latinas, such as Buddha, Panda and the Spanish 2gether.Between 5 and 13 march, the site of exchange 2gether saw an increase in their volumes of trade. A graphic sent by representatives of 2gether to Breaking News shows you how to the day 5 march, the volume was about EUR 226.000 while the Friday the 13th of march registered a volume in excess of EUR 760.000.Source: 2getherEn the course of those days, there was a drop on march 7. But then, for three days is recorded volumes above 300,000 euros, while that on the 12th of march the users of the platform came to market until 483.791 euros.During the days recorded in the graph you can see particularly an increase in volumes for the purchase, the more that the sale. In total, 75% of the trading transactions on the platform are the purchase of cryptocurrencies. Especially, the high volumes correspond to operations with bitcoin and ether, which dominate 90% of the trades of purchase.Source: 2getherFinalmente, the representatives of the platform emphasized that the increase in the period described above represents a 236% in the volume of purchase transactions.

In the current environment, this increase of the trading with crypto, despite the volatility that has the market shows that the investor confidence in the criptoeconomía is on the rise.2gether

Inactive users resume their operations in Panda

Also Panda, site of the columbian exchange, has experienced an increase in activity recently. In direct contact to Breaking News, the CTO of Panda, Typson Sánchez Sánchez, confirmed that they have recently experienced an increase of up to 15% in new registrations.In addition, they noticed that 30% of the registered users in a situation of inactivity have taken their operations on the platform. On this, Sanchez explained that it is considered as inactive to a user when the user does not execute at least two operations of exchange on a weekly basis.For the representative of Panda, it is curious that the confidence towards the cryptocurrencies arrives in the middle of a situation like the one you are currently living in the world with the pandemic coronavirus or COVID-19.

The truth is unfortunate to have that happen all the calamities in the world to see a reflection of the confidence that exists in the cryptocurrencies and hope it continues to grow without the primary factor is a negative for humanity.Typson Sánchez, CTO, Panda Group

In the case of Buddha, the house of change, a chilean who also operates in Argentina, Colombia and Peru, recent activity contradicts the common behavior in times bearish on the market. So what is considered its founder and CEO, Guillermo Torrealba, via Twitter.In his message, published last march 16, Torrealba said that they were experiencing the opening of many new accounts each day. Given this atypical behavior, Torrealba was skeptical with respect to what it can represent for the future. “Let’s wait and see how it translates”, was their appreciation in this regard.

Breaking News made an attempt to contact the broker to argentine Satoshi Tango, but there was no response. When writing to the contact of WhatsApp available in your website, an automatic response warns that due to “high demand” are not responding messages by that route. It is not clear if this demand is associated with an increase in the activity within the platform.

Bitcoin shows signs of recovery with traditional markets in red

The last few weeks, the price of bitcoin was accompanied by the fall of the stock markets, oil and other traditional indexes. At its lowest point, the price of BTC came to fall below $ 4,000.However, certain signs were allowed to keep the optimism among analysts. Particularly, the signature Coin Metrics came to the conclusion that the behavior of sales was driven mainly by speculators or traders of cryptocurrencies, and not corresponded with a massive leak of investors.Meanwhile, the analyst Willy Woo, one of the most recognized of the ecosystem, considered that bitcoin was showing signs of de-coupled from the traditional markets, particularly with regard to the index of Standard & Poor’s 500 (or S&P500), which had reached its historical maximum of correlation.In its evaluation, Woo assured to maintain their feeling bullish for bitcoin. In fact, this Thursday, march 19 the price of BTC rose more than 12% in 24 hours to be close to USD 6.000. Then, she was able to overcome that level. At the time of writing this note the market value of BTC is USD 6.205, on data from CoinMarketCap.In the context of a fall of traditional markets, and once past the fall that took the market of cryptocurrencies, investors seem to be opting for to seek a refuge in the criptoactivos. So it seems to ratify the increase in the exchange houses like Buddha, Panda or 2gether.Meanwhile, the price has recovered to over 15% in the past two days and the trading volume went from about USD to 51,000 million to more than 54,000 million between Thursday and Friday, according to records of CoinMarketCap.