Trading platform Forex proposes to launch crypto calculator for cost evaluation
Luxembourg-based crypto institution and trading platform Forex Suggest announced on Wednesday the rollout of a cryptocurrency calculator for clients to evaluate cryptocurrency trading costs.
The crypto market has seen waves of volatile headwinds this year, from Russia’s invasion of Ukraine and Luna’s collapse to a liquidity crisis among crypto lending platforms, all of which point to a choppy trading environment in the crypto market.
To get a better calculation and evaluation of trading costs in the crypto space, Forex Suggest believes that a crypto calculator would be a great tool for investors to study”how much the crypto you used to buy could be worth if you held onto it.” terms of the registered value of cryptocurrencies, according to the calculation platform.
According to a test from Blockchain.News as an example, if an investor bought 1 unit of Ethereum (ETH) On April 8, 2021, the calculator showed that the value of ETH on that date was around $2000, losing around $400 compared to the current price. In addition, the table also showed the maximum value of the same amount of ETH at the All-Time-High (ATH), which was traded at $4.9K on November 10, 2021.
Source: Forex Suggest
The trading platform suggested that the biggest increase in value over the past two years goes to Solana (SOL), which has increased in value by over $25, an increase of almost 98%. In contrast, Dogecoin (DOGE) has seen the second largest increase (95.4%), followed by Polygon (MATIC) in third place (95%).
According to the Forex Suggest press release, the majority of the top cryptocurrencies have increased in value over the past two years, with an average increase among the top twenty coins of 51.35%.
Meanwhile, Bitcointhe leading cryptocurrency in terms of trading volume has increased by 61.20%, from just over $9,000 per coin to over $24,000.
In terms of value added, Unus SED LEO (LEO) recorded a 48.15% increase in June compared to last year’s performance, while Shiba (SHIB) has recorded a value increase of over 11%.
Retail customers can enjoy more options for transactions today as more private firms are open to accepting crypto as a form of payment. The trading platform suggested that Amazon ranks as the largest company accepting crypto, with a turnover of almost $470 billion in 2021.
Although clients cannot pay for items with tokens directly, they can alternatively redeem the retailer’s coupons and use them to make purchases.
The American telecommunications operator At&T and the technology giant Microsoft are following the lead. Both sides received over $168 billion in revenue in 2021.
Previously, the trading platform conducted a study showing that Hong Kong is the most crypto-ready economy globally. In general, the city enjoys a higher number of blockchain startups, with the number of crypto-ATMs proportional to the population and no taxation of capital gains on cryptocurrencies.
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