Do you feel like it’s been a while since something big happened? In our latest report, we’ll be recapping some things that occurred recently and are worthy of your attention. But first and foremost, the numbers.
Total May 2021 revenue: €1,635,016
May 2021 Revenue share: €163,502
Share per 100 CPAY: €0.181
Distribution date: June 10th, 2021
May 2021 Revenue share in ETH: 78.7845 ETH
The last month has been… interesting.
First of all, Bitcoin is down 41% in comparison with early May, which might not have entirely escaped you, even if you don’t have any stake in the business whatsoever (who knows, maybe you’re more of a Doge person). The coin currently trades at just above $34k.
The fall from grace can finally be attributed to 2 very specific reasons. One of them being the Chinese government cracking down on crypto, and the other, unexpectedly, Elon Musk — the very catalyst behind the newfound crypto boom. Well, at least up until recently.
At the moment, some 75% of the world’s bitcoin mining happens in China due to its cheap electricity, which, of course, can’t be good for the environment. Purely political aspects aside, this goes against the ambition of the government to make China carbon-neutral by 2060, and so it’s “clamping down on bitcoin mining and trading activity”.
As regards Mr Musk, he seems to be flip-flopping all over the place as Tesla will no longer accept Bitcoin as payment for its cars, citing, again, climate change concerns as the reason. Fair enough, but still, a nasty shock for a casual investor engaging in some cheeky momentum trading. So much so that some investors actually plead with Mr Musk to stop tweeting.
Amidst the kerfuffle, Ethereum is getting ready for a transition to a Proof-Of-Stake consensus mechanism, which promises a more scalable, secure and sustainable future. According to some estimates, a PoS Ethereum will consume at least 99.5% less energy.
‘At the beginning, I thought we might do a blockchain in three months… but we found out that it takes 18 months to finish,’ shares Ethereum’s creator and co-founder Vitalik Buterin. ‘We thought it would take one year to do the Proof-of-Stake, but it actually takes six years.’ Boy, can we relate.
Despite a significant increase in revenue in May 2021, most products showed similar results comparing with April. However, both Exchange operations (Wallet) and the EEA card programme managed to outperform themselves. The Wallet owes its success to an increased volume of transactions made by several large retail customers, while the card programme is continuing with its organic growth.
The B2B, card deposits and bank transfers remained practically at the same level, with the latter showing moderate organic growth as well, which can also be said about B2C as a whole: at this stage, it’s still largely organic and spontaneous.
We’ve just started applying major changes to the product and our marketing approach and thus should reap what we sow towards the end of the summer. Have a lovely end of the week!