The crypto total market cap has reached an all-time high above $3 trillion and an increase in its numbers of users well above that of the Internet in its early days. Every year the demand for crypto and blockchain-based products seems to increase with trillions still to be disrupted across the legacy financial system.
The Naga Group AG, a publicly listed company operating as a copy trading-focused broker based in Germany, has acknowledged this demand and will seek to meet it with the integration of its trading platform- naga.com with Naga Coin (NGC).
Launched in 2017, this cryptocurrency was designed as a utility token for traders operating on the company’s trading platform. Since then, Naga Group went through a complete restructuring- a milestone that was successfully completed as demonstrated by its fundamentals today and NGC is now ready to be integrated as the utility token on naga.com.
Naga Group was one of the best-performing stocks in Germany in 2020 and has risen about 15x since 2019. Naga’s trading platform, naga.com, records over 1 million users, over $250 billion in annual trading volume for the platform’s exchange products, and has achieved record revenue growth for the past 11 quarters in a row with total revenue for 2021 expected to be USD 50 million. The company’s turnaround has been spearheaded by its CEO- Benjamin Bilski, who achieved it within 2 years and raised its market value to $500 million.
Under his leadership, the company has launched several products, such as its own crypto wallet and crypto exchange. In addition, the platform released a mobile app (nagapay.io) for the European Union and the United Kingdom, which allows users to hold money in their IBAN accounts and VISA Debit Card and invest.
The growth in Naga Group has allowed it to attract attention from renowned institutional investors which translated recently into two funding rounds raising a total of more than USD 60 million. The first round which was concluded in September allowed the company to raise USD 27 million and saw participation from Apeiron Investment Group Ltd backed by legendary billionaire investor Christian Angermayer and Peter Thiel’s Founders Fund. The second round which just concluded in November saw NAGA raising USD 38 million as it unveiled its plans to complete listing on NASDAQ by the second half of 2022, creation of a new Software-as-a-Service revenue vertical and releasing guidance that the company is set to more than double its revenue in 2022 to EUR 95 million to 105 million.
Naga Coin, Most Undervalued Project In Crypto?
Due to their success in transforming Naga Group, Bilski and the team are now looking to achieve similar success in integrating Naga Coin (NGC) onto NAGA Group’s trading platform. This integration with NGC is a logical step in its roadmap as it was conceived as the core utility case for the platform.
The planned utilities of NGC are as follows; Open NGC-based trading accounts, allow copy trading leaders to earn double copy-trading fees with NGC, allow copy traders to save 50% copy trading fees with NGC, stake NGC for VIP tiers on naga.com, attractive APY for holding and staking NGC.
The above-mentioned utilities are planned and will be rolled out in stages, with the key feature due to be live in the coming days and allow copy traders to leverage the NGC-fee mode, save 50% on copy trading fees if paid in NGC.
Traders on this platform generate over $250 billion in trading volume in a year across 1,500 assets, from Stocks, ETFs, Commodities, Metals to crypto and forex, out of which 600,000 real money transactions form part of the company’s copy trading mechanism. Thus, the integration of NGC is poised to experience high demand as copy traders will benefit from the discount and credits points.
Copy traders will create a constant demand for NGC and a bullish impact on the price of NGC. As the number of traders grows, the bigger the trading volume and active users, the higher the bullish effect.
Traders will also be incentivized to hold and stake NGC and the supply of the token will benefit from another deflationary component. The additional utility features of NGC are expected to go live in Q4 2021 / Q1 2022 as well.
Before the end of the year, the platform will also add additional features, such as its own native NFT Marketplace (naga.com/nft) for users to issue and trade digital assets with NGC to be used for discounts and preferred access. Currently, NGC is mainly trading on Uniswap and it has also been announced that NGC will be listed on the leading crypto exchange Kucoin on 1st Dec which will increase its levels of exposure and adoption as it makes its way into the mainstream.
With the tremendous progress that NAGA has achieved since 2017 and an ambitious roadmap ahead, NGC is still sitting at a low market cap of USD 60 million (vs close competitor Voyager Token VGX at a market cap of USD 1.2 billion) and could be at the top of the list of projects destined to take the crypto market by storm in the coming months.
Dextools: https://www.dextools.io/app/ether/pair-explorer/0x5e4a92625a337707ba362abff463bccc5b896d21
Uniswap: https://app.uniswap.org/#/swap?outputCurrency=0x72dd4b6bd852a3aa172be4d6c5a6dbec588cf13
Website: nagacoin.io
Telegram Channel: https://t.me/NagaOfficialChat
Announcement Channel: https://t.me/NAGACoinAnn
NAGA Coin Twitter: https://twitter.com/TheNAGACoin
Contract Address: 0x72dd4b6bd852a3aa172be4d6c5a6dbec588cf131
