March 8, 2021

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2gether breaks records: €37 million transacted in crypto trading

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In January, 2gether, a financial platform specializing in cryptocurrency trading operating in 22 countries across Europe, broke a new record: €37 million transacted for the purchase and sale of cryptocurrencies. According to company figures, trading on the app has increased 2.5 times in the last three months.

We have seen unprecedented development in the crypto sector, which has had a very positive impact on companies like 2gether:

  • Increased support coming from traditional financial institutions, namely banks and asset management companies, which are starting to see cryptocurrencies as a safe haven asset.
  • Phenomena such as WallStreetBets, which has attracted investments in cryptocurrencies from retail investors, and the support of crypto assets by Elon Musk, the famous founder of Tesla and SpaceX, have given a strong boost to both Bitcoin and Dogecoin.

In this context, Ramón Ferraz, CEO of 2gether, explains:

“The last time we experienced similar growth was in April and May last year when BTC fell to €4,000 and then achieved a strong recovery. However, at the time the percentage of buying and selling was much less even than it is now.”

According to 2gether’s data, over the past three months, buying and selling cryptocurrency in the app accounted for 59.83% and 40.17% of transactions respectively; between April and May, the percentages were 70.14% for purchases and 29.86% for sales.

These figures also extend to the purchase of 2GT, the 2gether token, which increased by 83% compared to last month. This growth is due to 2GT’s upcoming issue date of February 23rd, as well as the company’s strong performance.

2GT will be listed on Bounce.finance, where there will be a 7-day token offering equivalent to €500,000 (the sale will be made in exchange for ETH), in which everyone can participate. 50% of the ETH obtained through this campaign will be placed as liquidity in the 2GT/ETH pool on Uniswap. In addition to being able to buy and sell 2GT, users will also be able to deposit additional liquidity on Uniswap with a return of 0.3% on registered trading.

On 2GT, CEO Ramón Ferraz commented:

“2GT is an ERC-20 token, the nature of which is to be a utility token. We have been working for three years to make 2GT useful in the 2gether ecosystem and to ensure that it fits the regulatory framework under the rules imposed by the Comisión Nacional del Mercado de Valores, the body that is in charge of regulating financial markets in Spain, based on the analysis of the white paper and information provided by the company, and which is included in the proposal for the regulation of the crypto market (MICA) promoted by the European Commission.”

The post 2gether breaks records: €37 million transacted in crypto trading appeared first on The Cryptonomist.





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