Bitbuy Technologies Inc., which was acquired by tech outfit WonderFi Technologies Inc. (NEO: WNDR, Forum) last month, saw a 29% increase in Ethereum volume traded in January 2022 versus December during the recent volatility in the crypto market.
On top of that, Bitbuy successfully listed seven new coins in December 2021, adding $34 million in new value from the new listings, with the platform planning to add multiple new coins in Q1 2022 to further underpin marketplace volume growth and user satisfaction. Bitbuy previously recorded a 24% increase in platform value traded in Q4 2021 versus Q3, as well as recording a 58% increase in new user registrations during that time. While the broader crypto markets declined in January, Bitbuy continued to experience inflows of new capital.
WonderFi’s Chief Executive Officer, Ben Samaroo said in a Wednesday news release that since announcing the Bitbuy acquisition and the company’s $45 million bought deal with Canaccord, the team continues to engage with Bitbuy to identify multiple synergy opportunities that are expected to optimize the future value and performance of both businesses.
“Bitbuy’s performance over the last few months solidifies the thesis that platforms like Bitbuy thrive with market volatility.”
A technology company with the mission of creating better access to DeFi, WonderFi made headlines on news that its total assets as of September 30th, 2021, were $25.4 million, including $20.3 million in cash and $4.1 million in crypto assets.
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