Qoin World February 2024 Update
The contents of this newsletter are point-in-time statements. Please note the date of publication.
29 February 2024
Welcome to your latest newsletter where we update the community on all things Qoin.
Industry Overview
The big news in late February was the surge in the S&P Digital Asset Index to a market cap of US$2.2 Trillion. This was largely driven by BTC reaching US$60,000 and ETH exceeding US$3,400 per coin. Per media reports enthusiasm for crypto assets has been fuelled by the approval of multiple ETFs in January as well as the halving of Bitcoin coming up in April.
Community Transactions
The community transacted 1.049 million Qoin across 2,648 transactions at a combined wallet value of approximately AU$10.5 million for the month of January 2024. The average transaction size for the month was Q396. Since the start in January 2020 the community made 556,000 transactions at a combined wallet value exceeding AU$2.5 Billion. This data excludes incentives and internal related transactions.
Other Updates
The team is currently reviewing the Qoin.World website with the objective to simplify its messaging to a future audience of consumers and merchants over the next few weeks. At the same time, the tech team is completing its recommendations for the next phase to further decentralisation of the blockchain and automation of the off-chain processes.
The Qoin legal & compliance team is preparing for the class action mediation set for 5 April 2024. The opt-out process has now been completed. BPS Financial is still awaiting the judgment in the completed ASIC proceedings.
Closing
All the best to each one of you across Australia, New Zealand, UK, South Africa, and Singapore who have downloaded the Qoin Wallet App. Enjoy transacting and remember its free.
The Qoin Team