FN Media Group Presents Microsmallcap.com Market Commentary

New York, NY – February 8, 2022 – Cryptocurrency exchange FTX saw its valuation soar to $32 billion in a new funding round announced on January 31, underscoring continued appetite for the sector. The Bahamas-based company raised $400 million in a Series C funding round – its third round in the past nine months for a total of $2 billion in venture capital to date. Of course, this is just one of many financing rounds sending serious cash into the crypto sector. In 2021, funding for blockchain startups increased 8-fold at $25.2 billion and isn’t expected to slow in 2022, creating a positive outlook for companies in the space such as WonderFi Technologies Inc. (NEO:WNDR) (OTCPK:WONDF), Marathon Digital Holdings, Inc. (NASDAQ:MARA), Hut 8 Mining Corp. (NASDAQ:HUT), Hive Blockchain Technologies Ltd. (TSX:HIVE) (NASDAQ:HIVE), and Voyager Digital Ltd. (TSX:VOYG).

Leading technology company WonderFi Technologies Inc. (NEO:WNDR) (OTC:WONDF) is continuing to make progress in its mission to create greater access to DeFi through strategic deals. In January, the company announced the acquisition of Bitbuy Technologies, Canada’s first approved crypto marketplace, and it’s already proving to be a worthy investment. Bitbuy is a trusted execution platform that serves more than 389,000 users, with over $4.6 billion transacted through the platform.

On February 2, WonderFi announced that Bitbuy Technologies achieved an increase in monthly new deposits and marketplace coin volumes despite the volatility and declines in crypto markets in December and January. This increase supports WonderFi’s theory that the crypto exchange model provides diversified income streams and can operate independently of the prevailing performance of the crypto market.

Bitbuy reported a 29% increase in Ethereum volume traded in January compared to December. The company also listed seven new coins in December 2021, generating an additional $34 million in new value.

Bitbuy will continue adding new coins on its platform in Q1 2022 to underpin the marketplace volume growth while driving user satisfaction.

On February 8, WonderFi announced that BitBuy has entered into an advertising agreement with Kogan.com, one of Australia’s largest and most popular online retailers. The partnership will provide marketing support to Bitbuy’s future launch into the Australian market and give WonderFi access to Kogan’s 3.3 million active monthly customers.

For more information about WonderFi Technologies Inc. (NEO:WNDR) (OTC:WONDF), click here.

Crypto Stocks Thriving Despite Market Slowdown

Digital asset miner Hut 8 Mining Corp. (NASDAQ:HUT) recently provided its mining production for January 2022, revealing that it mined 308 BTC. Hut 8 reported that 16% of the production was from the company’s GPU (Graphics Processing Unit)  miners. These GPUs are efficient with minimal power requirements resulting in an average cost of less than C$2,600 per Bitcoin. The company deposited 100% of the self-mined bitcoin, resulting in 5,826 bitcoins held in reserve. During the month, the company also retired its older fleet of Bitfury Clarkes, replacing them with 6,317 MicroBT M3OS and M31S+ miners.

Ashu Swami is now serving as the Chief Technology Officer of Marathon Digital Holdings, Inc. (NASDAQ:MARA). He has diverse experience in the tech and crypto space as a chip designer, entrepreneur, and crypto and DeFi expert. He has previously worked in different capacities in the tech and crypto space, including founding LocalPad. He also has three patents in blockchain and trading as well as experience in technical, regulatory, and market. Marathon adds Swami as part of its technical lead to move the company into the forefront of bitcoin and blockchain innovation.

Hive Blockchain Technologies Ltd. (TSX:HIVE) (NASDAQ:HIVE) announced that the total Bitcoin Equivalent mined by the company in 2021 was 4,032. In January, Hive produced 264 bitcoins at a bitcoin mining capacity of 1.87 Exahash. The company also produced 2,170 ETH equivalent at an Ethereum mining capacity of 4.56 Terahash. Hive has continuously expanded its Bitcoin hashing power despite the increasing network difficulty and challenges such as the curtailment by Quebec Hydro following extreme cold weather in Canada and increasing energy prices.

Voyager Digital Ltd. (TSX:VOYG), which is one of the fastest-growing, publicly-traded cryptocurrency platforms in the US, is now a corporate investor of crypto lending and tax platform CoinLedger. Voyager recently partnered with CoinLedger to bring free tax tools for its users for the 2021 tax year. This investment in CoinLedger serves as a path toward the company’s long-term strategic vision in the crypto space. At the same time, it provides an additional array of services for Voyager users making it easy for them to track and report their crypto taxes.

Despite the ongoing volatility in the crypto space, companies in the sector such as WonderFi continue to see positive growth and increased activity on their platforms, which is a tentative indication of the nearing maturity of the crypto market.

DISCLAIMER: Microsmallcap.com (MSC) is the source of the Article and content set forth above.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of WonderFi Technologies Inc.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

Media Contact:
FN Media Group, LLC
info@financialnews.com
+1(561)325-8757

Source: Microsmallcap.com

The post Appetite for Crypto Sector Still Going Strong as Valuations Rise appeared first on Financial News Media.