🪙 KRAKEN: More Than Just A Bitcoin Trading Platform!
On the eve of NFT Store launch we decided to take a closer look at the companies we offer and share our overview with our community. The first one in the row is Kraken.
Country: USA
Founded: 2011
Industry: Blockchain, Fintech, Trading Platform.
Daily Volume: $415,564,160
A BRIEF HISTORY
Kraken is a cryptocurrency exchange and bank, founded in 2011, valued at $11B, as of mid-summer 2022.
The Exchange is one of the earliest cryptocurrency exchanges that are still in operation. Kraken’s CEO and founder Jesse Powell, an alumni of California state university, established the company in 2011 to build a stable and secure exchange.
In September 2013, Kraken was launched, offering Bitcoin, Litecoin, and euro trades initially before going on to add additional currencies and margin trading. Kraken is registered with key regulatory bodies such as FinCEN (US), FINTRAC (Canada), FCA (UK), and AUSTRAC (Australia)
WHY USE KRAKEN EXCHANGE?
📌 It is the fourth-largest Centralized Crypto Exchange globally, with a ~3.2% share of crypto spot volumes in 2021. Kraken’s current valuation is estimated to be $10 billion, putting it at valuation/revenue multiple of ~22X.
📌 Kraken has many extra features that you won’t find on other easy-to-use exchanges. Kraken offers margin trading, futures trading, staking, OTC service and more.
📌 Trading fees on Kraken pro are lower, with maker fees of 0.16% and taker fees of 0.26%, which reduces based on your 30-Day trading volume {down to 0.00% for makers and 0.10% for takers}.
GROWTH AND ACCOMPLISHMENTS
⬆️ 2014: listed on the Bloomberg Terminal and received a $5 million Series-A investment from Hummingbird Ventures and Bitcoin Opportunity Fund.
⬆️ 2015: Opened a dark web pool for anonymous investments
⬆️ 2016: Acquisition of Coinsetter and completion of it’s series of Round-B investment.
⬆️ 2017: increase in the number of users of the platform. 50,000 users daily!
⬆️ 2018: Acquisition of Crypto facilities.
⬆️ 2019: The exchange got $13.5 million from 2,263 individual investors.
⬆️ 2020: Kraken acquired a Special Purpose Depository Institution Charter from the state of Wyoming.
⬆️ 2021: Kraken had ~3.2% of the global spot crypto-trading volume, compared to 5.6% in 2020 and 7.3% in 2019!
⬆️ 2022: Currently, over 6 million people are using the platform. How phenomenal!
As an exchange, Kraken stands out among it’s competitors, because it has a simple, sleek interface that is easy for beginners to navigate. The Exchange holds 95% of deposits in air-gapped, geo-distributed cold storage and has not faced any hacking/coin theft incidents since its launch.
As you know, at MMPro, we are committed to bringing the best project for investment to our community. And given the consistency in growth and development, we can say that Kraken will be able to maintain its market share at 3.2%
Further detailed analysis can be found in presentation >> Here <<
Kraken will be on MMPro NFT Store launching soon. NFTs will be available in 5 Tiers.
Further details will be shared as the launch dates draw near.
*all data provided in this article are relevant to date 08/24/2022
