SINGAPORE, Aug. 6, 2019 /PRNewswire/ -- DigiFinex, an international cryptocurrency exchange headquartered in Singapore, is expecting a digital asset bull market towards the end of the year.
Kiana Shek, co-founder of DigiFinex, says, "We are also seeing lots of growth in deal flow and token listing activity, indicating a huge increase in risk appetite."
The exchange has listed almost 80 blockchain projects this year, with more than 20 coming on in July alone. As a result of such optimism, the exchange's native token, DFT, has gained over 500% this year, last trading at $0.75.
DigiFinex is optimistic about the Bitcoin block reward halving coming up in May 2020. The reduction in new supply increases the scarcity of the digital asset, which many believe will generate buying pressure.
To cope with a surge in retail demand for cryptocurrencies in the later part of 2019, DigiFinex has opened a channel for its users to buy bitcoin with credit card.
Shek says, "We partnered with Simplex earlier this year to provide our users with the best rates on the market, when they buy Bitcoin with Visa or MasterCard. Users will receive their crypto purchases in their exchange wallets within 10 to 30 minutes."
DigiFinex users can buy popular cryptocurrencies with US dollar or euro, and currently pay 3.5% in fees. This rate is the lowest in the world for credit cards. DigiFinex users have been responding well to the plan, with the volume of purchases by credit card tripling quarter on quarter after the first half of 2019.
DigiFinex has been expanding aggressively in order to keep up with the demand for its services. For example, DigiFinex Korea launched in April this year and has quickly become a popular platform for premium blockchain projects.
This year end would mark the second anniversary of Bitcoin trading at its all time high of almost $20,000, before bears took control in 2018 and the entire cryptocurrency market lost as much as 80% of its value. Industry experts believe the next bull run will be even larger than 2017's.
DigiFinex is a world leading digital asset financial exchange headquartered in Singapore. It is the preferred cryptocurrency trading platform of more than two million users around the world.