The pendulum swings back as bitcoin crashes to a six month low in a deplorable but predictable move. The community mourns and HODLs. We review the month of November and share some thoughts about the card programme. But first, in accordance with our tradition, let’s look at the numbers.
Total November 2019 revenue: € 364,498
November 2019 Revenue share: € 36,450
November 2019 Revenue share in ETH: 274.4506 ETH
Share per 100 CPAY: € 0.04
Distribution date: December 6th, 2019
Cryptocurrency market experienced a bloodbath in November 2019 as BTC posted the most significant monthly decline this year — first cryptocurrency gave up almost 20% of its value last month which also extended into the altcoin space. October 2019 rebound could be one of the reasons behind the November selloff as the market has boosted major crypto prices significantly in the prior month. Looking ahead, volume in the market is expected to be lower as the holiday season approaches and we at least hope that BTC will lock up its 90% yearly gains and set up for next year’s developments. There were not many significant news highlights during November 2019 — US lawmakers keep fighting stablecoins and hence Libra, EU Money Laundering Directive is being passed by more EU governments and only Canada brings the big positive making it possible to see a public-traded bitcoin fund listed in late December or early January. December 2019 is interesting first of all due to the Ethereum’s Istanbul network upgrade which is scheduled to take place approximately this Sunday.
B2C revenue at Cryptopay followed the BTC market trend and decreased by more than 20% in comparison to October 2019. All products had similar negative dynamics during November 2019 which was a result of lower average transactions per user. Many customers who bought crypto in October 2019 now HODL and don’t perform any operations in the wallet therefore company’s turnover for the period has decreased.
Regarding the cards, we’re ending this year on a positive note. Having got the green light from VISA, we’re confident that we’ve done everything that depended on us and we know how good our programme will be once it goes live. Of course we can’t not address the delay we’re living through at the moment. Unfortunately, our issuing partner has experienced a lot of issues with correspondent banks in regards to cryptocurrency regulations and proving the transparency. However it doesn’t change the fact that we are at the final stage of launching our very own card programme and we’re rather optimistic for the future.
The B2B revenue has won B2C’s negative dynamics back and even contributed to an overall increase in the company’s revenue. B2B grew by another 25% and keeps breaking records due to the brilliant team’s effort which has been recognised by the award at SIGMA recently.
In the next issues we will tell you more about the features we’re planning to implement in the coming year (as a sneak peek, it will concern card purchases and making them as fast as BuyNow and as friendly as Cryptopay).
What about you? Are you as impatient for the upcoming card launch as we are, or perhaps you’ve got something else on your mind? Don’t forget that you’re always more than welcome to drop us a line and share your ideas. What other features would you like to see implemented apart from cards? We are positively itching to hearing from you!