Thailand Market Digital Asset Update (Q3/2019)
It has been six years since the first and largest Thailand cryptocurrency exchange, BX or Bitcoin Co.Ltd, was founded. Since then, the exchange has been taking a major role in Thai cryptocurrency market.
At dawn on Monday 02 September 2019, the exchange made an important announcement. It decided
to discontinue offering digital exchange services and wallet services on their website BX.in.th which all trading will stop. The main reason they gave to the market is to focus on other business opportunities. Promptly, Thailand SEC makes an official statement to set up a team for supporting all investors who get the effect on BX’s discontinue business. (BX’s facebook page)
Consequently, Bitkub and Satang who are holding 22.3% and 12% market share respectively (as of Jan 2019) will be sharing the 65.6% from BX with other new exchanges which soon will enter the Thai market (efinancethai.com).
The market liquidity and volume will be shaken up again between the current two rivals as we see the two are actively running acquisition campaigns for new users to their platform. In any case, we believe the real winner will be the exchange who can earn trust from most users while offering the best service and user experience.
SIX Network <> Bitkub Partnership
The closure of BX was a shock to Thai crypto community. The mass media report has misled the market, resulting in a huge price decline in BX for a short while. Thanks to Thai crypto media and communities, they have played a major role in clarifying the information to crypto newbies. However, it is a good challenge to all of us in the crypto world. SIX Network is committed to work harder on educating, sharing, and offering the fairer economy, especially in the creative market. We are passionate about reinventing experience for digital creators around the world.
During the last month, SIX token has been traded very actively and positively. It has gained the value of over 200%. Currently, SIX/THB is only traded on BITKUB and we have partnered with the exchange for mass adoption.
To keep this positive momentum and make a wave to mass adoption in Thailand, SIX Network and Bitkub have announced a 3-week trading competition campaign with a prize pool of 50,000 SIX. The top-three traders with the highest SIX trading volume win the competition.
Please follow the link for more information. SIX Trading Competition.
Topic: Thailand Market Digital Asset Update (Q3/2019) (Read 62 times)
Jump to: