LONDON — The cryptocurrency price boom is long gone but many companies are still profiting from the surge in business that it bought. US charting startup TradingView saw a surge in sign-ups last year as investors piling into crypto turned to the tool to help with technical analysis.
TradingView, which has a freemium subscription model, supports over two dozen cryptocurrency exchanges and has accepted bitcoin as payment for 5 years. Customers almost quadruple from 2 million last June to over 8 million as the price of bitcoin and other crypto assets surged almost 1,000% against the dollar.
Much of that price rally has faded but Rauan Khassan, international expansion manager at TradingView, told Business Insider: “Unlike the decline that’s been seen on most cryptocurrency exchanges, our user base continued growing.” “We reached 7 million in December when the crypto market peaked,” Khassan said.
“Since then we are growing, definitely at a lower pace, but it remains in a positive territory.” Interestingly, he said that many customers who came for crypto were now moving towards other asset classes like stocks and foreign exchange.
It suggests that crypto may have acted as a gateway drug for many customers. “Users who initially came for trading opportunities in the crypto class, they actually move to covering FX,” Khassan said. Read more from businessinsider.com…
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