It was a good day for cryptocurrency enthusiasts when they learned that a large Goldman Sachs-backed cryptocurrency startup Circle acquired digital token exchange Poloniex.
Why would they do this unless they saw huge potential in cryptocurrency markets and blockchain technology? They wouldn't.
So what does Circle hope to get out of this new acquisition? Well, Circle said on Monday that it aims to cement its position as one of the leading players in the booming market.
So what does it cost to buy out a huge cryptocurrency exchange like Poloniex? Well, according to Fortune magazine, the deal was speculated to be worth around $400 million.
“We’ve been really impressed with what they have been able to pull off. They defined what originally people thought of as ‘altcoin’ exchanges,” Circle co-founder and CEO Jeremy Allaire said.
So here is a little information about Circle for readers that are just getting clued in here:
Circle operates an app-based peer-to-peer payment network using blockchain, the technology which first emerged as the system underpinning cryptocurrency bitcoin. It is also one of the leading players in the over-the-counter market for bitcoin trading, and is soon launching a retail-focused app for buying cryptocurrencies, Circle Invest.
They are a big player in the peer-to-peer payment industry and based on my research they are now also one of the best-funded blockchain startups in the world with investors that include Goldman Sachs Group Inc and Baidu Inc.
I find this to be outstanding news and enough to turn the tides from a bear market to a bull market. I'm going to go out on a limb and say that smart money is going to load their bags with high potential cryptocurrencies in the next few weeks in preparation for some heavy moves upward.
What do you guys think about this news? Are we talking circle's or squares here?
Don't forget to leave your comments below!
Source:
Goldman-backed startup Circle buys major crypto exchange Poloniex - Reuters
Image Source:
Reuters
There is not better News than this @techblogger. Thanks for updating everyone with this. Circle is backed by Goldman Sachs which is a leading finance corporate from America that works globally on investment and financial solutions. This is a major breakthrough and team Poloniex has done a phenomenal job in pulling off this deal.
This will definitely put cryptocurrency space into the mainstream and for a little while we might see pumps in the market. So day trader should be ready to take benefit from this News and long time HODLers will get relieved as this is not a scam or false news. It's happening guys!
Circle is a startup which allows you to send money just like you are sending a simple text to your friend and I hope they will leverage the exchange to boost its functionality to send cryptos like they enable sending fiat. Cheers!
Circle acquisition of Poloniex is just the beginning of likely consolidation in crypto. The digital payments company Circle has bought cryptocurrency exchange Poloniex is stirring speculation of more acquisitions in the young digital currency world.
‘This verification process using a webcam is cancer’ -Poloniex membership
Majjharr vai bitcoin:
📌Circle acquires Poloniex :
💢#Pumpit_Polo_Bags_ 😉 Mobile payment app "Circle" acquire #Poloniex, they also state that will introduce fiats pairs Usd & Eur. Remember Circle is back by #Goldman_Sachs