January was both an exciting and difficult month in the crypto-space, as Heleum users know well.
There has been a massive spike of interest in cryptocurrencies after Bitcoin unexpectedly hit an all-time high of nearly $20,000 mid-December. Nowhere was this new mainstream interest more evident than the 2018 North American Bitcoin Conference in Miami, Florida, which, in the last 45 days of ticket sales, soared above 4,000 registrants. It was far and away the largest cryptocurrency- related event in history. Ethereum and Bitcoin also got more exposure as popular trading app Robinhood announced that they will be enabling users to trade them alongside their stock offerings. Over a million people signed up for the service within days of that announcement. Heleum’s strategic offering has also grown, as we added three more popular cryptocurrencies to our lineup: Bitcoin Cash (BCH), Bitcoin Gold (BTG) and the Basic Attention Token (BAT)- adding more opportunities for account gains as balloons navigate between these volatile coins.
Even with all of this excitement, however, it was a tense month as crypto markets took a dive in value. As it currently stands, Heleum works by holding crypto positions during crashes, and most users’ accounts have ridden the crash down more than 30%. This obviously isn’t serving us or our customers well, so new updates to the algorithm are on their way, including stop-loss rules that will protect value with stable fiat currencies during crashes. These developments have progressed significantly the last few weeks, and you can watch the development team’s progress in real time at heleum.com/roadmap.
Back to good news: Heleum continues to grow, even in the hard times! We finished off the month with 3,390 active users who have funded their accounts with $2.6 million. We look forward to helping our users accelerate their savings in the months and years ahead.