VNDC Report: Maintaining Growth despite volatile market (October 2020)

VNDC Report: Maintaining Growth despite volatile market (October 2020)

October 2020 for the CryptoCurrency market can be said to be a volatile month with a series of negative news: President Donald Trump infected Covid-19, Bitcoin mining from the BitMex exchange, tension ahead of the election President of the US,… However, in the face of such bad news, VNDC still affirmed the reputation and safety when maintaining its growth in the month.

  1. Number of users

In October, VNDC continues to be chosen by investors as a trusted wallet address to store and trade digital assets. Compared to the previous month, the number of VNDC users has increased by 53,409 people, bringing the total number of users to 760,889. This is the result of continuously upgrading and updating the application to suit the needs of the user.

  1. Monthly transaction volume

In October, the Crypto market continuously suffered negative impacts, which significantly affected investors’ trading decisions. However, the monthly trading volume of VNDC still exceeded VND 2 trillion, the number of transactions reached ~ 1.2 million.

It can be said that the above results are the achievement of VNDC’s efforts in continuously giving market warnings, helping investors to have the right direction, thereby making an effective investment. Along with that, the reputation and stability of the VNDC Wallet is also an important reason that makes users feel secure, trusting in choosing to trade in this complicated market.

  1. VNDC New Listings 

Continuously updating new trendy products to help users diversify their options when investing in cryptocurrencies, in October, VNDC continued to list 11 assets that are now the top interests.

As can be seen, among the newly listed coins, Lua Swap is the one with the biggest attraction to investors. Trading volume in October of this coin reached 21.9 billion VND since its launch on 05/10. Along with that, the number of transactions of this asset also outstripped other currencies when it reached the threshold of 41.5 thousand transactions in just over 20 days.

On 10/10/2020, VNDC continued to list 9 digital coins: Waves, Atom, Doge, Vet, Ont, Bzrx, IOST, Dash, and BTT. These are all Defi coins that have received great attention from investors. Therefore, after being officially listed on VNDC, the transaction volume of these assets also reached a significant number.

In particular, the appearance of NAC on the VNDC Wallet has also attracted a large number of investors participating in the transaction. Listed at the end of October and after only 3 days, the trading volume of this currency reached 1.08 billion VND, the number of transactions reached 2,017 turns.

  1. Most transacted assets on VNDC Wallet
  • Striking assets on VNDC Wallet (in VNDC)

In October, TomoChain was the leading coin in the top coins stored on the VNDC Wallet with the amount up to 19.9 billion VNDC. Followed by the USDT, ETH, and BTC with equal ownership, ranging from 10 billion – 20 billion VNDC. In particular, based on the data, it can be seen that TomoChain is a very potential coin when being chosen to store alongside market-leading coins such as USDT, ETH, and BTC.

  • Top 10 most traded coin of VNDC 

In October 2020, VNDC and USDT were the two currencies most traded with the volume reaching 2.02 trillion VND and 686.8 billion VND, respectively. Next are Tomo and ETH with transactions amount reaching 239.6 billion VNDC and 139.3 billion VNDC. In particular, in the ranking of the top 10 most traded assets in October, there were two new currencies LUA and BTT with the trading volume of ~ 21 billion VND and 8.5 billion VND, respectively. This proves that these are two currencies with great attraction, chosen by many speculators to trade.

Besides, for LuaSwap, although newly listed, the number of transactions of this currency ranked third only after VNDC and USDT. This is a sign that the coin’s trading activity is very active, reaffirming its appeal on the Crypto market.

  1. VNDC Update

  • Update purchase VNDC table feature through partners

With the aim of diversifying options, bringing the best experience for users, VNDC has updated and improved the feature of buying / selling VNDC through partners. This change has made it easier for customers to choose business partners, ensuring safety, reputation, and high liquidity during transactions.

  • Open international payment gateway when buying digital assets

In addition, so that users in countries around the world can buy Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and other digital assets easily, VNDC has cooperated with Simplex to implement payment methods by international payment cards (Visa, Master) with many different currencies.

Epitome

It can be seen that, in October 2020, despite much bad news, the indexes of VNDC still have positive signs. This demonstrates the stability and credibility of this currency in the volatile CryptoCurrency market. In the coming month, VNDC will continue to strive to become a secure wallet address, which is the first choice to accompany investors in the cryptocurrency market.

Matthew A dreamer, an adventure hunter whose life goal is to create big products that help life better. Now, I am building VNDC's products with a dream to become an open financial system for Vietnamese people in the world.
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments