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Cloudcoin scheduled to trade on Bitmart Exchange

Posted by Craig Reaser on November 13, 2021 - 8:21pm


Cloudcoin is scheduled to begin trading natively (without a blockchain variant) on the Bitmart exchange in January.  Bitmart has a daily volume over $1B and around 750,000 weekly visitors according to CoinMarketCap.  Bitmart is committed to listing Cloudcoin in it's pure post blockchain form, avoiding the fees and transactions delays seen with derivatives like Cloudcoin Etherium and Cloudcoin Bitcoin.  Bitmart accepts U.S. traders and has a fiat on-ramp, unlike many spot exchanges.  "This is exciting news for liquidity and the greater acceptance of Cloudcoin," Sean Worthington, CloudCoin's chief scientist, said.  This major step forward will help Cloudcoin be listed natively on other exchanges during 2022.  Even before the Bitmart announcement, the trading price of Cloudcoin variants had nearly doubled in the past week.                                        Inflation fears drive digital currency growth.  Cloudcoin and all digital currencies seem to be benefiting from global inflationary pressures.  Inflation occurs when central banks increase the money supply due to government spending or monetary policy.  Inflation is most easily recognized as prices of everyday items increasing.  The global inflation rate for 2021 has been 3.5 percent and is projected to remain above three percent for 2022.  Inflationary pressure will be felt especially in the United States where the government recently passed $1.2 billion in spending and is considering another $2 billion.  Hard assets like gold have traditionally been investors' go-to hedge versus inflation, but increasingly, digital currencies are filling that role.  The overall digital currency market has grown more than 600 % in 2021.  Cloudcoin is poised for growth from these inflationary pressures combined with added liquidity and scarcity of our coins now that no further coins are being released from the Cloudcoin Mint.  All Cloudcoins that will ever exist are now in circulation with no new coins being created.  This scarcity event has long been expected to be a major influence on the trading price of Cloudcoin as prior to this month, the Cloudcoin Consortium needed to add value to our currency just to offset the growth in supply.

November 15, 2021 at 7:17am