It appears that the crypto space is starting to consolidate following a period of instability after the rapid rise in Bitcoin prices less than a year ago.
Bitcoin has since stabilised in recent months 60% below its peak, but well above where it was this time 12 months ago.
As what happens in the stock market, it appears that acquisitions are also starting to occur in the crypto space as many new cryptos no doubt burn through cash whilst growing their presence.
Bitxcoin, a crypto currency that completed its ICO earlier this year at $1.00 (seed investors accessed it from as little as $0.04 cents) have issued a private placement to acquire Aircoin (a planned ICO to compete in the Airbnb holiday letting space).
It’s believed that the purchase was mostly by crypto and partly cash.
It’s offering existing Bitxcoin and Aircoin purchasers access to the private placement for as little as $0.04 cents- a discount to non-existing Bitxcoin holders of 50%.
Bitxcoin announced its acquisition recently on its homepage www.bitxcoin.io.
Bitxcoin is intending to list by end of the 3rd Quarter 2018.
According to Medium.com, as with every developing industry, consolidation becomes a part of the day-to-day (just ask cyber companies). In many cases, coins/tokens will just fall of the grid and disappear quietly after spending a lot of its investors’/speculators’ money on flat screen TVs or lavish worldwide roadshows, but in other cases M&A will be considered a viable path forward.
The publication goes on to explain:
What are you looking for?