Kraken has been traded for around $1,600 a coin.
The cryptocurrency exchange, which has been around for a couple of years, was previously valued at around $5,000.
Kraken’s coin price has recently spiked to around $7,000 per coin.
Krak has had a difficult year.
A recent report from CoinDesk revealed that the exchange lost a significant amount of money in March after the closure of the Kraken Bitcoin Cash (BCH) exchange.
Krak was one of the first Bitcoin exchanges to open, and it was not without controversy.
A report from Reuters revealed that Kraken had failed to provide adequate security for the Bitcoin Cash blockchain.
In May 2017, the company was forced to close a second Bitcoin exchange.
Kraken had said it would be closed in July, but it was still in operation at the time of writing.
CoinDesk’s report also detailed some of the problems that led to the closure, which included “lack of transparency and poor management”.
In September, Kraken said it had closed another Bitcoin exchange, and said it was working on a plan to get back on track.KRAKEN IN THE NEWSKraketCoin, the cryptocurrency exchange that was recently acquired by Digital Asset Holdings, said in an update on its website that it had secured $50 million in capital and was “working towards a $60 million valuation”.
A statement on the exchange website said: “Krakens business model is based on the fact that we provide an open platform for investors to purchase and sell digital currencies, and as such, we are able to scale quickly to meet the demand.”
The company said it planned to launch a digital currency trading platform by the end of 2017.