KR1 Celebrates $5.6 Million Profit in 2019, Thanks to Cosmos Network

Solid Gains in a Dynamic Crypto Landscape

European digital asset investment firm KR1 has made quite a splash in the chaotic waters of cryptocurrency, boasting an impressive profit of $5.6 million for the first half of 2019. This windfall can largely be attributed to the successful rollout of the Cosmos network, a beacon of innovation in the digital asset domain.

Riding the Bull Market Wave

KR1’s CEO, George McDonaugh, didn’t mince words in their interim report, released on September 30. The firm witnessed a portfolio boom during the first half of 2019, a time when Bitcoin (BTC) soared from a meager $3,200 in late 2018 to a jaw-dropping $13,000 by mid-year. It was a crypto rollercoaster that left many investors screaming with delight—or terror, depending on where they were in the ride.

Cosmos: The Investment that Shone Brightest

The Cosmos network’s successful debut has been a game-changer for KR1. Identified as one of the firm’s sterling investments, the launch sparked interest and excitement throughout the digital ecosystem. This network, boasting the title of “the Internet of Blockchains,” is designed to facilitate harmony among disparate blockchain platforms, making it easier for them to work together.

Staking ATOM: A Revenue Stream

As if that weren’t enough, KR1 also enjoyed substantial returns from staking their Cosmos tokens (ATOM). The profits from this endeavor were no small potatoes, with the firm recognizing a revenue boost of £116,788 (approximately $143,621) in just over three months post-launch. It’s a sweet reminder that, in the world of blockchain, there’s often a little extra to gain if you’re willing to lock up a few tokens for a while.

Looking Ahead: Confidence in PoS Blockchains

In the same breathe of enthusiasm, McDonaugh expressed optimism about future-proof projects involving Proof-of-Stake (PoS) technologies, including the eagerly anticipated Polkadot and Dfinity. These initiatives, he argues, are likely to cultivate robust cash flows as they evolve. KR1 is already ramping up involvement with Commonwealth Labs and Edgeware, both looking to capture the potential of Polkadot.

A Staking Platform with Binance

To top it all off, on September 26, Binance—a heavyweight in the crypto exchange arena—launched a dedicated staking platform. This platform not only allows users to earn rewards by depositing their tokens but adds another dimension to engaging in the crypto economy. It’s like having your cake and eating it too—just make sure not to overindulge and risk indigestion in the volatile world of crypto!