Happy new year and welcome to the December 2023 edition of our Monthly Report, where we keep you updated on BitcoinVN, your premier Bitcoin & Cryptocurrency Exchange in Vietnam.
📈 Business news
The last month of 2023 has been another bullish one, with the BTC price climbing to nearly $45k. This upward trajectory signifies a robust end to the year, sparking renewed interest and optimism among investors, enthusiasts and degenerates.
BitcoinVN witnessed its highest exchange activity since January 2020. Notably, the exchange volume surged by 33% compared to the preceding month.
🩴 XMR flipped BTC
December has certainly kept us on our toes in the crypto exchange world, particularly with Monero (XMR).
Major exchanges are playing a subtle game of musical chairs with XMR, either quietly showing it the exit or making its exchange process a bit more like a challenging puzzle.
This puts the spotlight on all remaining Monero exchanges. In our case, XMR’s exchange volume soared higher than that of BTC. Yes, you read that right! As a result, we’re now in the position of offering some pretty impressive returns on staked XMR.
We’re talking about a return rate of 87%. During the past 90 days alone, we have paid $5,310 worth of XMR in staking rewards!
⭐️ A new business model emerges
As most XMR swaps do not include VND, the overall share of crypto-to-crypto swaps on BitcoinVN also keeps skyrocketing, marking a pivotal shift in our business model.
This development heralds the decline of our exclusive role as a Vietnamese fiat on-and-off-ramp, ushering in a new era of diversified business opportunities.
That’s all for now. See you in our next update!
Your BitcoinVN Team