Welcome to the July 2023 edition of our monthly report – your backstage pass to all things BitcoinVN, your favorite Bitcoin & Cryptocurrency Exchange in Vietnam.
Business news
While the crypto rollercoaster seemed to take a breather this month, we were able to post the highest exchange volume since August 2022 and 18% higher compared to previous month.
USDT accounted for nearly two thirds of said exchange volume (up from 57% in June), with its share significantly increasing with each month during the past year.
Will we have to change our name to TetherVN?
USDT (62%) has solidified its spot as the headliner, while other assets are playing more of a supporting role, if we’re being honest. The lineup includes:
- BTC (25%)
- BCH (4%)
- XMR (3%)
- ETH (2%)
It’s funny to think about the fact that we could disable 50 coins without causing a noticeable dent in our exchange volume.
Looking at our outflow, we can see that BitcoinVN users continue to play it safe, settling for VND and stablecoins to the highest degree since April 2021, which marked the end of the bullmarket with BTC hitting $64,000.
Some would see this as a bearish signal. Others might see this as the perfect time to accumulate. You’ll have to decide for yourself.
A new banned Bitcoin book
Last week, the US Department of Defense ordered the immediate cease of further distribution of Jason Lowery’s much-debated thesis “SOFTWAR”.
As a result of the Streisand Effect, all remaining copies have been quickly scooped up from our online store.
Farewell to Cash2VN
In a strategic move, Cash2VN – our remittance service – is gracefully sunsetting to make way for our flagship product, BitcoinVN.
As a no-signup exchange with no crypto deposit limits, BitcoinVN is well positioned to be the cryptocurrency remittance service for payments to Vietnam.
Bitcoin ATM moved to Capone’s
For the time being, we’ve moved one of our Bitcoin ATMs from Indika Saigon to Capone’s Restaurant.
Whether you’re a seasoned HODLer and looking to buy non-KYC Bitcoin or a curious newcomer buying Bitcoin for the first time, our Bitcoin ATM at Capone’s will meet your needs.
That’s enough for now. See you next time!
Your BitcoinVN Team
