In the backdrop of the recent surge in the cryptocurrency market, Mudrex has seen trading activity soaring 192-270% in its crypto investment platform in the last three months. In fact, in February alone, the platform onboarded 42,000 new users.

The recent rally in Bitcoin and other cryptocurrencies has captured the attention of investors worldwide. What is your perspective on this market phenomenon, and how does Mudrex position itself to navigate and capitalize on such market trends?
Edul Patel: The current market movement in crypto can be attributed to many factors. Firstly, the approval of 11 Bitcoin spot ETFs by the US SEC and the approaching Bitcoin Halving event also plays a significant role. Historical data indicates that Bitcoin Halving has triggered price hikes. When Bitcoin’s price surges, other altcoins tend to follow the suit. Moreover, the Federal Reserve and central banks have opted to halt rate hikes, maintaining the repo rate at its current level. Conversely, there is a lot of developer activity going on. Ethereum surged beyond the $4,000 mark due to positive sentiment and Dencun upgrade. Similarly, we also saw Solana peaking.

During this time, at Mudrex, we’re committed to educating investors to make informed decisions. We have also introduced Mudrex Insights, where we provide investors with tools to comprehend tokens and conduct fundamental analysis, empowering them. Given the bullish market, investors must remain vigilant against scams, conducting thorough research and investing through compliant platforms to ensure legal recourse.

Looking back at Mudrex’s performance over the past year, what key milestones or achievements stand out to you, and how do you assess the company’s overall growth and progress during this period?
Edul Patel: The previous year marked significant milestones for us. We successfully introduced Saber.Money, our B2B product offering onramp and offramp services for businesses seeking crypto integration. Moreover, following the FIU’s prohibition of foreign exchanges, as the sole platform facilitating both crypto deposits and withdrawals at that time, we saw a surge in user activity, exceeding 40,000 users during that period on Mudrex. Additionally, we launched Mudrex Prime catering to HNIs and family enterprises. Recently, we also expanded our offerings to include Bitcoin spot ETFs for Indian investors on our platform.

At Mudrex, trading activity has soared, evidenced by a 192% increase from December to January, and a subsequent 270% surge from January to February. In February alone, we onboarded 42,000 new users. Anticipating continued growth, we project onboarding 100,000 new users and witnessing a threefold increase in trading volume by the end of March.

As we approach the end of the financial year, what are the key events or developments that investors should keep an eye on in the coming year, both within the cryptocurrency space and the broader financial markets?
Edul Patel: As the financial year comes to an end, investors should plan their investments well in advance for the new financial year. It is also important to plan and file for crypto taxes. We also have a tax calculator to help investors plan their taxes better. On the other hand, Bitcoin Halving, the most anticipated event on the Bitcoin calendar, occurs every 210,000 blocks or roughly every four years. We have seen Bitcoin halving in the past in 2012, 2016, and 2020. The fourth halving event is scheduled for the upcoming April which will reduce the mining reward to 3.125 BTC per block. Historically, Bitcoin halving events have been associated with substantial price surges. So, that’s one event investors should keep an eye on. Considering the volatility and uncertainty in the financial markets, what advice or recommendations do you have for investors planning their strategies for the next financial year? How can Mudrex assist investors in achieving their investment goals in such a dynamic environment?
Edul Patel: Investors should always do their own research before investing in any financial assets including crypto. It is always advisable to diversify their investments to protect and earn better risk adjusted returns. It is always suggested that investors should not invest more than 5-10% of their portfolio in crypto. At Mudrex, we have relationship managers who can help in supporting and managing the investor portfolio well whether it be, retail or HNIs.

Looking ahead, what are Mudrex’s plans and strategies for the next phase of growth and expansion? Are there any new products, features, or initiatives that investors can look forward to in the coming year?
Edul Patel: We are planning to launch many more products catering to diverse investor needs. Our aim is to become the largest asset manager in the next 5 years. We look towards onboarding 5 million users by 2025. We are also working towards adding more currencies for our onramp and offramp services.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)