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What Crypto Winter?
Liquid A Japanese Crypto Startup Gets Evaluated at $1B
The current price of Bitcoin has hurt many in the crypto
space, but apparently not all. A Japanese cryptocurrency start up, Liquid has attained
"Unicorn" status and has raised over $1B in valuation. This is one of
the largest valuations of a cryptocurrency related project. Especially considering
the current market conditions, this is an enormous amount.
Startup valuations tend to be relative to the amount invested and usually are around 10%. One of the few larger valuations includes Circle, which is valuated at $3B.
Who is Liquid?
Founded in 2014, Liquid is a Japanese cryptocurrency trading platform with some similarities to better known Binance. It has many different trading options, a launchpad for ICOs and lending platform. Liquid also has a very high trading volume ($50B) and its own exchange token, QASH.
Liquid stands out by offering trading options that are unavailable at Binance, this includes margin trading and infinity trading. Infinity trading is essentially margin trading with very high leverage (100x). Another thing that sets Liquid apart from the pack is the fact that it is obtaining a Japanese banking license.
They have recently published a press release regarding the end of their round C funding & evaluation of $1B. As per the press release:
Liquid CEO Mike Kayamori said: "As we enter into a new age of digital disruption in financial services, consumers are increasingly placing a higher value on digital assets and technologies they can trust and use with greater ease. Our vision is to make financial services accessible to all, which means bringing more people into the digital asset space so that anyone can be a part of it. This first round of Series C funding from our two highly respected investors, IDG Capital and Bitmain, puts us in an incredibly strong position to make a global impact in 2019."
The Bottom Line
It appears that public interest in cryptocurrencies is far from over, regardless of the current price of Bitcoin. We will probably see a few more large evaluations of cryptocurrency related projects & maybe even a resurgence of ICOs & token sales.
Liquid's native coin, QASH will also probably respond positively to the news.