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OctagonTrade Future: Cryptocurrencies are about to register one of their most important years as 2020 draws to a close. After a two-year stagnation, cryptocurrencies saw renewed interest as market valuations rose to their highest point in recent years.
This year has been an eventful one for cryptocurrencies as a pandemic-induced recession brought with it considerable volatility for both traditional assets and crypto assets, providing ample opportunities for traders around the world.
Despite a challenging economic outlook, cryptocurrencies like Bitcoin and Ethereum have proven resilient with growing support from retail and institutional investors.
The resurgence of cryptocurrencies has quickly positioned them as one of the best performing assets in 2020, outpacing traditional investments like gold and equity markets. Many analysts believe that the recovery will continue in 2021, as stimulus programs to boost inflation authorized by major central banks and governments are likely to continue.
Steve Jobs once said, "You can't connect the dots looking forward; you can only connect them looking back. Therefore, you have to trust that the dots will somehow connect in your future."
The new decade brought with it a whole new world of uncertainty and unknown to us. The Covid-19 pandemic shook the world and our industry was not spared. The impact of Black Thursday on March 12 remains one of the darkest days for our industry. Instead of giving up, we persevere and keep building.
Today we enjoy the fruits of our work. Octagon Trade's success is attributed to our continued efforts to introduce innovative products, improve the user experience, and at the same time ensure a stable and seamless performance that users can trust.
Thanks to these efforts, Octagon Trade has grown tremendously this year. We are proud to share some critical milestones in this review, the ones we have achieved together with the community, that helped us get to a place where we now:
Cross Collateral, an innovative feature that allows users to guarantee their crypto assets to borrow against another crypto asset, was introduced.
Introduced Octagon Trade Options, which simplifies options trading for retail users. With the built-in leverage offered, users can maximize profits while minimizing downside risk.
Launched the DeFi Composite Index, Octagon Trade's first composite index product, allowing users to track and participate in the fast growing DeFi market.
Launch of Battle, a novel cryptocurrency trading by putting traders face to face in a battle to see who is the most profitable for a given period.
It marked a new all-time high in 24-hour volume of more than $ 106 million on December 18.
In total, Octagon Trade offers more than 160 derivative products:
As of this writing, Bitcoin has been holding firmly above $ 20,000 and is approaching $ 25,000. Trading on Octagon Trade rose to a new high of over $ 106 million in 24-hour volume, cementing our position as the world's largest crypto derivatives exchange.
Bitcoin will strive to reach uncharted territory in 2021, just like all of us at Octagon Trade. Hard times may return, but as long as we trust the process and continue to build, I am confident that our industry will survive any crisis. We will remain focused on our core values of user-centered design and innovative products while continually engaging with our users, community, and industry.
What will 2021 bring to the future of cryptocurrencies?
While we cannot accurately forecast whether the current uptrend will persist until 2021, we can confidently say that the positive developments made this year by the entire crypto economy will not go away anytime soon. Large institutional investors are beginning to see value in the digital asset space. They will continue to invest to transform our industry to new heights.
With the growing popularity of cryptocurrencies this year, the cryptocurrency revolution is just beginning. A post-pandemic world will see a new digital economy in many industries, which could potentially gain support to push cryptocurrencies to a new level of adoption.
Octagon Trade was created by people like you - with enthusiasm and passion to enter the financial market. With a lot of expertise in different fields such as technology, high frequency trading, market analyst and specialist, mathematician, data analyst and more.