Bitcoin Platform Melotic closed

Screenshot (2)Hong Kong based Bitcoin startup Melotic closes. The trade exchange for Bitcoin and other digital currencies called an “insufficient growth” as a reason for the closure. In an blog post, published on May 3, the company said the cost had risen exorbitantly and no longer cope. On Melotic numerous other digital currencies and valuables as decentralized App token could be held and traded alongside Bitcoin. According to statements the platform is the victim of the low trading volume.

As you can read from the article, the users have to withdraw their deposits by May 15 occasion – then the platform will close permanently. But the company not want to disappear from the scene. Melotic will venture with a completely new product to restart and promises its users a comeback. In a statement a spokesman said that the company is still solvent and the resources are only otherwise be used for a new service in the digital currency industry.

It was only in October last year Melotic received venture capital in the amount of 1.17 million US dollars. Involved in the investment round were then Ceyuan Ventures, Bitcoin Opportunity Corp and 500 Startups.

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