Cryptocurrency & Blockchain Business
Richie Munro

Adab Solutions backs First Islamic Cryptocurrency Exchange (FICE)

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Bull Run

A common term we hear now even when the margin is small say around 5-10% of growth. But when IS the next Bull Run? We saw last year that Bitcoin went excessive and the FOMO had kicked in and as the market spiked to its peak, it then dropped, and dropped hard. Since then we’ve seen a decline in a bearish dominant market with people making assumptions predictions & wild guesses of when the next bull will commence. People believe its mass adoption, which is happening slowly in areas. A bull run is needed to boost prices, a growth spike to initiate. This is where I believe it will come from, it will come from F.I.C.E.

F.I.C.E is currently in ICO development with the Soft Cap already being reached.

What is F.I.C.E?

FICE stands for the First Islamic Cryptocurrency Exchange which is being backed by Adab Solutions. FICE will be a Cryptocurrency Exchange that’s opening its doors to the world and bringing onboard Sharia Compliancy into the blockchain & crypto sector.

 “Another Exchange opening up? There are already thousands out there! How can this bring the next Bull Run!?”

Simply put, it comes back to numbers. Remember we’re dealing with numbers and for us to get that bull run, we need more growth. The F.I.C.E is compliant with the norms of Shariah and based on the principles of Islamic Finance, who now have passed allowances for the Islamic Community to allow trading of Cryptocurrencies. This new legalization for the Islamic Community has opened a gateway to a market of 2 Billion Muslims who now can go through a Shariah Compliant Exchange to buy & invest in crypto. Let me put it like this.

There are roughly hundreds of exchanges with millions of daily users.

There will be 1 Exchange that’s compliant for Muslims. There are 1.8 Billion Muslims.

As we see, that’s a lot of people that’s going to be funneled through an exchange that’s compliant for Muslims. Just remember, it’s an exchange that’s open to everyone, not just the Muslim Community.

Current Market Cap vs Expected Market Cap

At the time of writing the Market Cap sits on a bearish $201,777,625,584. The ATH (All Time High) was around 800 Billion last year in December/January.

Let’s do a small rough equation. We know that not All of 1.8 Billion Muslims will venture into crypto, so we need to be realistic. Let’s say roughly 5% of Muslims would invest into Crypto in the first year of FICE going live, so 2019-2020.

5% of 1.8 = 90,000,000

That’s 90 Million people.

Now, what if we said that those 90 Million each invested or purchased cryptocurrencies with a value each of $500.

90,000,000 x 500 = $45,000,000,000

That’s a whopping 45 Billion Dollars which is currently 25% of the current market cap as we speak! Now as we look more realistically, out of those 90 Million, there will be people who would spend More than $500. Even when I ask myself, how much have I invested? It’s more than $500. Again there will be people who won’t spend $500, this is an average working out.

Now $45 Billion Dollars is a lot of money in a bearish market. What do you see in say 3 years’ time when we’re out of the bearish market & into growth spurt we’ve never seen before. Will the Market Cap finally see the 1 Trillion mark?

I suggest to at least have a look at FICE by Adab Solutions. I believe with what they want to achieve is going to boost not just the Muslim Community but the overall market for Cryptocurrencies.

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