BTCS Inc. (BTCS) stock prices were up by 3.59% shortly after market trading commenced on October 6th, 2021. This brought the price per share up to USD$6.05 early on in the trading day.
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BTCS Stock Launches Platform
October 6th 2021 saw BTCS stock announce the Beta launch of its digital asset data analytics platform. The platform will enable users to connect several cryptocurrency exchanges to aggregate portfolio holdings into a single platform to both view and analyze performance. The company plans to facilitate the integration of the analytics platform with its staking-as-a-service platform. This will create a seamless user interface to monitor crypto holdings across diverse exchanges and platforms.
Expansion of Offerings
Of the several hundred cryptocurrency exchanges proliferation the globe, most lack detailed performance metrics. Furthermore, many cryptocurrency traders hold digital assets across a myriad of exchanges. BTCS’ analytics platform provides a solution to these issues with the facilitating of users’ ability to consolidate portfolio data into a single view, in tandem with performance analysis. The analytics platform currently supports several exchanges, with the company planning to expand its offerings of performance-tracking tools, add additional centralized and decentralized exchanges, wallets, and offer staking opportunities.
Scope of Cryptocurrency Exchanges
More than USD$48 billion worth of transactions are recorded as being conducted on the digital asset market every day. This represented a 30% increase from the numbers reported for the prior year quarter. with the market maturing rapidly, the need for a sophisticated, comprehensive solution to track digital asset holdings and performance is still in its budding stages.
BTCS Stock Builds on Success
The company is building its platform to address and serve this unmet need. The company’s development team is continuing to allocate resources into the refinement of the platform. This includes adding support for more new exchanges, while also offering additional features and functionality. BTCS stock is expected the commercial release of the platform in the fiscal year 2022.
Future Outlook for BTCS Stock
The company reported a strong quarter, consolidated by the Beta launch of its digital asset analytics platform. BTCS stock is poised to capitalize on the opportunities afforded by the accelerated development and commercialization of its proprietary platform. Current and potential investors are confident in management’s ability to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.
