28 September 2018 Business News

OPPORTUNITY OR BUBBLE, DIGITAL CURRENCY MARKET VALUED AT HUNDREDS OF BILLIONS OF DOLLARS

Benefited from the blockchain consensus mechanism, the digital currency market realized an explosive growth in 2017, with its total market value surpassing USD 800 billion, the accumulated annual growth rate exceeding 3000%. However, 2018 saw the declining trend of digital asset market, with its total market value plummeting below USD 220 billion. Such a dramatic change brings the question: Is this huge market an opportunity or a bubble?

 

HONG KONG, CHINA - Media OutReach - 28 September 2018 - Benefited from the blockchain consensus mechanism, the digital currency market realized an explosive growth in 2017, with its total market value surpassing USD 800 billion, the accumulated annual growth rate exceeding 3000%. However, 2018 saw the declining trend of digital asset market, with its total market value plummeting below USD 220 billion. Such a dramatic change brings the question: Is this huge market an opportunity or a bubble?

Essence of finance lies in circulation based on credit. The blockchain technology featuring decentralization, traceability, non-alteration and openness is conducive to building a low-cost credit mechanism. The emerging finance market based on digital currency is booming.

As one major business of BihuEx Fund and backed by 500,000 BihuEx users, the registered users of Mars Digital Asset Bank are expected to exceed 300,000 by the end of 2018, with its business scale surpassing USD1.5 billion and profits up to USD18.65 million. To speed up its development and meet capital requirements on technical security, global promotion, team building, license applying and provisions for banking turnover, Mars Digital Asset Bank plans to raise USD 9.5 million by releasing 8% of its total shares in the first phase of offering.

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28 September 2018