News

OTC-platform Circle Trade has increased the minimum order size for a bitcoin twice

http://cryptoconsulting.info/wp-content/uploads/2018/04/shutterstock_562133725.jpg

“The market is strong” – this is how Jeremy Allaire, Fintech startup Executive Director of Circle, described the emerging institutional cryptocurrency trading market, which, he said, grew sharply in 2018, despite the fact that prices entered the bearish cycle.

In an interview with Business Insider, Allair said Circle Trade – an over – the-counter trading management platform-has doubled its minimum order size in recent weeks, though most trades are much larger.

“The minimum order size rose to $ 500,000 with an average of $ 1 million,” he said.

Previously, the size of the minimum order Circle Trade was set at $ 250,000, while the company reported that it processed over-the-counter transactions in the amount of about $ 2 billion per month.

Over-the-counter trading is crucial to strengthening the acceptance of cryptocurrency assets as these platforms allow traders to execute large orders outside of regular exchanges where a large order can result in strong price fluctuations that will be noticeable in global markets.

Trustee of the now defunct bitcoin exchange Mt. Gox, for example, drew criticism when it eliminated bitcoin and Bitcoin Cash worth about $ 400 million on exchanges, instead of using over-the-counter trading.

OTC trade flourishes — Circle has received funding

Allair said that Circle, which received financial support from Goldman Sachs, processed individual deals worth over $ 100 million.

Various platforms offer OTC trading to institutional clients, and the number continues to grow as large firms begin to accept this class of assets.

Gemini, a cryptocurrency exchange based on Tyler and Cameron Winklevoss, has recently announced that it will begin offering block trading, with transaction data being displayed with a delay to minimize their impact on stock prices. Another us service, Kraken, began offering over-the-counter trading in April.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto Consulting FZE
LICENSE NO. 2810
Free copying and distribution of materials from the Cryptoconsulting site is allowed only with the indication of an active link to Cryptoconsulting source. Specifying a link is also mandatory when copying content to social networks or print editions.

Copyright © 2017 CryptoConsulting

To Top
Authorization
*
*
Registration
*
*
*
A password has not been entered
*
Password generation