Arcario's LN Markets Hits All-Time High Trading Volumes in Remarkable Q1 2023 Performance
ARCARIO'S LN MARKETS HITS ALL-TIME HIGH TRADING VOLUMES IN REMARKABLE Q1 2023 PERFORMANCE
Arcario celebrates LN Markets' outstanding Q1 2023 results, showcasing significant growth in user base and trading activity.
Stockholm, April 21, 2023 - Arcario, a leading Scandinavian company in the digital asset and web3 space, today announced that its portfolio company LN Markets, an innovative Bitcoin exchange leveraging the Lightning Network, has achieved a record-breaking first quarter in 2023.
Unprecedented Growth Metrics
During Q1 2023, LN Markets attained remarkable milestones, including an all-time high in monthly trading volume at 1,850 BTC and a daily trading volume all-time high at 250 BTC. The platform also experienced an influx of high-volume traders, or "whales", with the average monthly volume traded per account increasing threefold. Additionally, the company saw a 308% increase in volume, a 336% surge in P&L, and a 17% rise in user numbers compared to the previous quarter.
Michael Jackson, Chairman of the Board of Arcario, commented, "LN Markets' astounding performance is a testament to their pioneering spirit and expertise within the Lightning Network, constantly pushing the boundaries of technological possibilities for Bitcoin. At Arcario, we are immensely proud of their achievements and remain committed to supporting trailblazers like LN Markets as they continue to unlock new opportunities and drive the future of our industry."
Q2 Strategies and Future Outlook
In Q2, LN Markets plans to focus on attracting high-volume users by offering incentives such as trading limit increases and trading fee discounts based on volume.
Côme Jean Jarry, Co-founder of LN Markets, expressed optimism for the platform's future: "Our exceptional Q1 results highlight LN Markets' immense potential as a leading derivatives trading platform built on Bitcoin. As we progress into Q2, we remain dedicated to expanding our user base and optimizing the trading experience for both retail and institutional investors. We are confident that our inventive approach to incentives will continue to fuel our growth and solidify our position within the Bitcoin ecosystem."
Arcario owns 16% of ITOAM SAS, the company behind LN Markets.
For more information, please contact Arcario AB's IR team at [email protected] or visit ir.arcario.com.
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About Arcario
Arcario is a Scandinavian trailblazer in the digital asset space, committed to shaping the future of finance as we know it. The company boasts a diversified portfolio that includes full ownership of K33, a research-led digital assets brokerage serving EMEA clients, Arcane Green Data, an eco-friendly Bitcoin mining operation in northern Norway, and minority stakes in both Puremarkets Ltd, a digital currency interbank OTC market, and LN Markets, a Bitcoin exchange leveraging the Lightning Network. The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser.
About LN Markets
LN Markets is a leading trading platform for leveraged bitcoin and options trading, built on the innovative Bitcoin Lightning Network. This advanced technology allows instant deposits of collateral from all over the world, enabling users to enjoy fast, cost-effective transactions with minimal counterparty risk. With its user-friendly interface, LN Markets provides a seamless trading experience for individuals interested in exploring the world of digital currency derivatives.