Jess Houlgrave, head of crypto strategy at payments giant Checkout.com, argued in an interview that the merger could renew confidence in the cryptocurrency market despite a drop in trading volumes on the platform.
Houlgrave also said that the number of crypto wallet addresses on most major layer 1 blockchains is increasing. Despite the decrease in market volume, the platform reported an increase in wallet addresses and the creation of more wallets.
These wallets may be owned by current cryptocurrency holders or new holders who have just entered the market. It’s not actually necessarily driven by new traders coming online, new retail traders think of crypto as a currency and investment asset, it’s actually people starting to use real-world crypto applications, including remittances, buying NFTs, and other digital assets.