Ethereum to be Added in the Largest German Trading Platform
The major bitcoin German marketplace – Bitcoin.de, will be making it possible Ethereum to be traded on its services.
Sep 27 – The development team behind Bitcoin.de through an email have revealed to the users and costumers that Ether trading will be made possible in the next weeks. Being interviewed by a local bitcoin-concentrated news outlet (BitcoinBlog.de) an employee of Bitcoin.de did announce the service becoming active due to the increasing demand for altcoins.
“Initially, there was no strong demand from the users toward altcoins apart from bitcoin. For a long time, the second largest cryptocurrency behind bitcoin was Litecoin, prior to the launch of Ethereum. Upon the emerge of Ethereum, the demand toward altcoins and cryptocurrencies in general surged.”
Europe Has Lagged Behind the US, Japan, and South Korea in Bitcoin Development and Trading Volumes
Despite friendly regulatory frameworks and policies for bitcoin businesses and investors, Europe has continuously lagged behind the US, Japan, and South Korea in terms of cryptocurrency development and trading volumes. According to bitcoin market data provider CryptoCompare, the European bitcoin exchange market is only the fourth largest market in the world behind Japan, the US, and South Korea with five percent market share.
Prior to the imposition of a nationwide ban on bitcoin exchanges by the Chinese government, the European bitcoin exchange market only accounted for 2 to 3 percent of global bitcoin trades.
However, being in the past-regulation phase which is representing a restructuring level of the market as Europe has surpassed China in trading volume by 3 percent.
Countries and nations from Europe are houses to some of the most innovative and creative financial directed technology companies and startups. However there is still a struggle to be dealt with for European bitcoin and blockchain markets if compared to Japan or South Korea.
In the upcoming months, through the integration of Ethereum and other cryptocurrencies apart from bitcoin, Europe could very likely evolve into major bitcoin and Ethereum market.
Already, Europe has become the third largest Ethereum market in trading volume, accounting for over 7.5 percent of global Ethereum trades. As regional trading platforms and marketplaces such as Bitcoin.de continue to integrate Ethereum and demonstrate support for other cryptocurrencies, Europe will likely see significant improvement in adoption and regulations.
The President of the European Central Bank (ECB) – Mario Draghi, opened up and revealed that digital currencies like Bitcoin or altcoins cannot be regulated. If the European market sustains this mindset of bitcoin and focuses on establishing a robust and efficient exchange market for users and investors rather than stalling the growth of the global cryptocurrency market, Europe will be able to emerge as a major market for cryptocurrencies like Ethereum.