Flipside Daily Mover: BRD
A coin per day, making big moves
BRD Expands ETH Support to the EU
August 22, 2019
BRD User Activity is up 18.42% over the last 2 weeks, driving FCAS up 13-points (2.46%). Developer Behavior declined 17-points (-2.29%) while Market Maturity spiked 11-points (2.1%). Price is up 28.49% over the same time period.
Europe, Ahoy!
Started in 2015, Bread has created an iOS and Android application that operates as a hot wallet enabling fast and easy purchase of ETH and BTC in various jurisdictions, with added support for DAI when paying with USD. Additionally, the application supports wallets for a wide variety of ERC-20 tokens. The BRD token is utilized for trading fees, discounts, and application services, and can be acquired through a customer rewards program.
BRD utilization is on the rise through August, impacted by two key announcements. The first occurred on August 6th, when the team rolled out an application enhancement which now displays price charts for cryptocurrencies supported by the wallet. The visualization enables users to view daily performance and price historicals, as well as toggle between different trend timeframes.
The second announcement came on August 9th, revealing that 28 European countries can now purchase ETH through the Bread app with credit card or SEPA bank transfer. The move significantly increases the wallet’s potential user base and has clearly had a positive short-term impact on fundamentals and price performance.
🌶️ Hot Take
The BRD wallet is an intuitive application that demystifies crypto acquisition and reduces the frictions that deter adoption on a wider scale. With a simplified onboarding process and straightforward purchasing options, the wallet is truly embracing the notion of “digital cash” by eliminating the frills of other wallet competitors and offering a practical solution for acquiring, holding, swapping, and paying for goods & services with cryptocurrencies. With an expanding reach and evolving application, Bread’s success will hinge on their ability to stick to core strengths, driving adoption through accessibility and usability.
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