Crypto Talk: Mudrex set to see 3x rise in trading volumes by month-end: Edul Patel
In the backdrop of the recent surge in the cryptocurrency market, Mudrex has seen trading activity soaring 192-270% in its crypto investment platform in the last three months. In fact, in February alone, the platform onboarded 42,000 new users.
«Anticipating continued growth, we project onboarding 100,000 new users and witnessing a threefold increase in trading volume by the end of March,» said Edul Patel, CEO and Co-Founder of Mudrex, in an exclusive interview with ETMarkets.
Patel also shared his valuable perspectives on the current market dynamics, key events to watch out for in the coming financial year, strategic recommendations for investors amidst market volatility, and plans for future growth and expansion.
The recent rally in Bitcoin and other cryptocurrencies has captured the attention of investors worldwide. What is your perspective on this market phenomenon, and how does Mudrex position itself to navigate and capitalize on such market trends?
Edul Patel: The current market movement in crypto can be attributed to many factors.
Firstly, the approval of 11 Bitcoin spot ETFs by the US SEC and the approaching Bitcoin Halving event also plays a significant role. Historical data indicates that Bitcoin Halving has triggered price hikes. When Bitcoin’s price surges, other altcoins tend to follow the suit.
Moreover, the Federal Reserve and central banks have opted to halt rate hikes, maintaining the repo rate at its current level. Conversely, there is a lot of developer activity going on. Ethereum surged beyond the $4,000 mark due to positive sentiment and Dencun upgrade.
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