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The recent price decline of Bitcoin, which has reached a new historical record higher than $ 7,350, clearly demonstrates how the cryptocurrency ecosystem has grown. As for Coinbase, a popular cryptocurrency trading system, things also seem excellent, as the data suggests that it has just added more than 100,000 new users in one day.
According to data collected by Alistair Milne, portfolio manager at the Atlanta Digital Currency Fund, stock market growth has been remarkable throughout the year, reaching a record growth of users on Tuesday. The data further suggest that the number of users has more than doubled since the beginning of the year, while the Coinbase website points to 11.9 million users.
Coinbase added 100,000 users in the last 24 hours
– Alistair Milne (@alistairmilne) November 2, 2017
The stock market's growth comes at a time when the CME Group, the largest derivatives exchange in the world, announces its intention to launch bitcoin futures in the fourth quarter of 2017. As CCN reports, the 39; absence of bitcoin derivatives, held many Wall Street investors apart, citing low liquidity and lack of access to traditional trading products. CME Group's move could introduce a "wall of liquidity" into the markets, helping to boost bitcoin prices.
One of the biggest problems of Coinbase was its customer support service, as several users were complaining that it would take a long time to exchange to answer their questions. The exchange, in September, extended direct telephone support to its customers, with the aim of solving the problem.
Moreover, Coinbase recently announced that its customers with a US bank account will now be able to buy Bitcoin, Ethereum and Litecoin instantly by paying with, instead of having to wait several days to receive their assets.
However, things are not all good in the territory of Coinbase. Earlier this year, Coinbase's Global Digital Asset Exchange (GDAX) began to be investigated by the US Commodity Futures Trading Commission (CFTC) on a 21 June air crash. Coinbase, owner and operator of GDAX, was instructed to provide information on the flash crash that plunged the Ethereum price by over 317 to 10 cents in milliseconds before recovering.
Regarding the next SegWit2x rigid fork, the exchange has recently clarified its position on the use of accumulated network difficulty to determine which blockchain it will label as bitcoin following the fork.
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