An important milestone for the crypto community, we’ve tried to summarise this November the best we could in our latest report.
Total November 2020 revenue: €851,982
November 2020 Revenue share: €85,198
Share per 100 CPAY: €0.094
November 2020 Revenue share in ETH: 177.7110 ETH
Distribution date: December 14th, 2020
November 2020 will undoubtedly go down in history as an iconic time for Bitcoin: on the last day of the month, it hit an all-time high of $19,850 breaking its previous record of December 2017 ($19,783).
However, while three years ago the uprising was mainly brought by individual investors, today the driving force has shifted to institutional investing with such major players as PayPal entering the market and adding cryptocurrency to the offering (this is something we wrote about in our June report; 5 months later, the price of Bitcoin has more than doubled).
Public opinion is warming up to Bitcoin as well. JP Morgan has recently ceded that ‘the potential long-term upside for Bitcoin is considerable’, which is quite a U-turn from the original position of its CEO, Jamie Dimon, who in 2017 infamously called Bitcoin ‘a fraud’.
Cryptocurrency seems to finally start going mainstream. But will Bitcoin always be the one stealing the limelight? It is quite probable that the limited supply of the coin paired up with the ever-growing demand will not only continue driving up the price of BTC itself but of altcoins, which is pretty much what we can see now. Ether especially is giving a stellar performance this year: since the beginning of 2020, its value has increased by more than 360%.
For the first time in quite some time, the unofficial Cryptopay competition between teams was won by the B2C sector whose revenue grew by a staggering 84%(!) in comparison with the previous month. This, of course, can be largely attributed to the November crypto rally led by Bitcoin.
There’s been a significant increase in trading within the account — a possible attempt to earn on exchange rates. Card purchases and bank deposits (with subsequent exchange to cryptocurrency) have become the second most popular feature as many a Cryptopay user hurried to jump on the bandwagon before the price of the crypto coins got out of control.
The revenue of the B2B sector fell by 2%, but it still performed with much dignity considering that what we’re comparing its performance with is the record revenue of the last several months. The team spent November onboarding new clients and taking part in online exhibitions, which is par for the course now with the lockdowns and the usual uneasiness generated by the Covid-19. Hopefully, they appreciated this little respite — we hope for a favourable end of this year and the beginning of the new one, and we’ll be waiting for new records from them.
Are you keeping up with our updates?
- We’ve added 9 new currencies for card deposits, which will allow our users to skip the exchange part and avoid additional fees when buying cryptocurrency. What will they do with this power: save or buy more? We’re all agog.
- We’re currently waiting for the launch of the Pending orders — a feature that will allow you to buy or sell automatically when the price hits a certain level. It’s just around the corner!