CRYPTO NEWS

GlobalBlock sees significant client growth after trading app launch

  • GlobalBlock launched its mobile trading app in July and has seen 1,288 downlaods, with client registrations increasing over the past two months.
  • The app is available on Google Play store and Apple App store.

GlobalBlock Europe, a digital asset broker wholly-owned by publicly-traded GlobalBlock Digital Asset Trading Limited, has recorded a significant jump in the number of new client sign-ups since the company’s unveiling of a mobile trading app, according to an update published on Thursday.

GlobalBlock developed the trading app in-house and launched it in late July this year, with download access on both the Apple App store and Google Play store.

Over the next one month, the company’s marketing efforts have seen downloads grow to 1,288, and figures for September are showing a similar growth trajectory.

App downloads and registration

As GlobalBlock notes in its press release, client numbers have doubled over the past two months as a reflection of the increased app downloads.

The company’s effort saw a conversion rate of 9% during the period, with 26% of those who downloaded the trading app proceeding to full registration – which means they completed a full KYC (Know Your Customer) check.

Given that online marketing generally achieves customer engagement levels of 5% with finance apps generally at 20%, our app download results after nearly two months are extremely encouraging. Our first month rate of 26% should be a floor as we hone our engagement practices,” said Rufus Round, CEO of GlobalBlock.

Rufus noted that the company’s brand has continued to see greater recognition and showing some positive effect despite the bear market. He opined that the firm is well prepared for the next phase of the market, especially after using the crypto winter to work on its product and streamlined its cost base.

As for the issue of cost base, GlobalBlock recently completed the migration of its digital asset service to Lithuania.

The post GlobalBlock sees significant client growth after trading app launch appeared first on CoinJournal.

Terra Luna Classic soars as Binance implements LUNC burn

Terra Luna Classic (LUNC), the original version of the collapsed cryptocurrency Terra Luna, is smashing upwards on Monday afternoon, with massive gains sending the coin to highs seen early last week. The LUNC/USD pair was trading around $0.00029885 at the time of writing, with intraday highs of $0.00031905 across major exchanges that list the coin.::Listen

Terra Luna Classic (LUNC), the original version of the collapsed cryptocurrency Terra Luna, is smashing upwards on Monday afternoon, with massive gains sending the coin to highs seen early last week.

The LUNC/USD pair was trading around $0.00029885 at the time of writing, with intraday highs of $0.00031905 across major exchanges that list the coin.

According to CoinGecko data, the cryptocurrency has surged by more than 40% in the past 24 hours – most of the gains coming after what is good news in the form of Binance support for the cryptocurrency’s burn mechanism.

Binance implements LUNC burn

On Monday, Binance CEO Changpeng Zhao announced that the crypto exchange, the world’s largest by trading volume, would implement a 1.2% tax rate burn as the Terra Luna Classic community looks to reduce the coin’s supply.

Binance will implement a burn mechanism to burn all trading fees on LUNC spot and margin trading pairs by sending them to the LUNC burn address. The specific amount of LUNC to be burned, its equivalent value in USDT, and on-chain transaction ID will be updated each week in this announcement until further notice,” the exchange informed its customers.

Zhao also commented on the LUNC tax burn, noting the platform is implementing the model as LUNC holders would not have supported an earlier announced opt-in proposal. He tweeted:

As for what happens to the fees, Binance noted: “Trading fees on LUNC spot and margin trading pairs that collected in a token other than LUNC (e.g., USDT, BUSD and BNB) will be converted to LUNC with the real-time exchange rates on Binance every Monday at 00:00:00 (UTC).”

In the past 24 hours, Terra Luna Classic has registered a daily trading volume of just over $2.4 billion, with CoinGecko data showing a circulating supply of 6,901,298,301,199 LUNC.

The post Terra Luna Classic soars as Binance implements LUNC burn appeared first on CoinJournal.

GlobalBlock sees significant client growth after trading app launch

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