Circle Keeps Getting Investors Despite the Bitcoin Bear Market - Global Coin Report
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Circle Keeps Getting Investors Despite the Bitcoin Bear Market

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The cryptocurrency company called Circle, which is startup backed by Goldman Sachs reveals a significant increase in institutional investors, despite the Bitcoin bear market. The prices of cryptos went down significantly in the last six months, but the number of investors keeps rising, claims the company.

30% more investors in May alone

Ever since the beginning of the year, the value of cryptocurrencies kept dropping after hitting a new record in late December. Despite this situation, a lot of companies with a focus on cryptos have seen a significant increase in institutional investors, and in the case of Circle, that increase goes up to 30%.

The company has seen the biggest increase in investors back in May 2018, when it decided to upgrade and mature its product through platform’s automation. The goal here was to create a possibility of accepting larger block orders so that they could match the increase in demand and achieve high-frequency trading.

What the company did not expect is that their modernization will attract so many new investors, even though the crypto prices dropped more than ever before. According to Circle’s CEO, Jeremy Allaire, the reason for maturing their product is that the institutional investors are turning away from telephone brokers. Instead, they seek to operate through an electronic interface.

This is why the firm saw the need to improve and allow high-frequency trading and bigger block orders. The result is that the company will become much more automated and digitized after it witnessed a 30% spike in investors’ interest this May. Interestingly enough, May was actually among the worst periods for cryptos.

The new investors brought more work for the company, and they are now witnessing a transaction volume that is 15 times bigger than that of last year’s. After getting feedback from their clients, which included both venture capital firms, as well as family offices, Circle has decided that the changes are in order. Otherwise, the company simply could not be capable of handling the customers’ needs, which went from $100,000 to $1 million in high-frequency equity trades.

So far, Circle’s offices in Hong Kong, London, and the US were quoting the prices manually via various instant messaging platforms such as Skype. After doing so, the trades would have been authorized. Now, the process will be automated, which will increase the speed as well as the number of trades that were conducted in a certain time period.

Circle to work with federal authorities

Circle’s plans to provide its customers with more services have been around for a while, and the company even attempted to get a US federal banking license to do so. They also wanted to help out their investors with sale and purchase of coins that are usually seen as securities. To do so, they have to be seen as a trading venue and brokerage by SEC.

If they are successful in doing this, they will be the first one to do so, and it will be quite an achievement. So far, Circle operated at a state-level, but it now wishes to try and reach the level where it will work directly with federal authorities. This will effectively reduce the number of regulators that Circle will have to report to due to the superiority of the federal law.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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AAX Crypto Exchange Announces Massive Growth Numbers in August

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AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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The Pros And Cons Of Cryptocurrency

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Many facets of our lives are now digitized––money is no exception. 

Have you noticed that paper money is on its way to being obsolete because so many people receive direct deposit and love the simplicity of their debit card? 

Not to mention, cash carries germs, as we’ve heard lots about during the pandemic. Many businesses have turned to card only options in light of this. 

But what about cryptocurrency?

You probably heard everyone raving about it a few years ago, but the excitement’s calmed down quite a bit. That doesn’t mean that it’s not a viable option you should keep in mind. 

What’s Cryptocurrency? 

Let’s start with the basic definition of cryptocurrency so we’re all on the same page. Cryptocurrency utilizes cryptographic methods and complex coding systems to encrypt sensitive information during data transfers. This protects your funds and personal information on a whole different level. 

These transactions are virtually impenetrable due to the combination of mathematical and technological protocols created and put in place. This aspect of cryptocurrency is what makes it safer. Also, the details of transactions are kept private. No one can see who sent what, etc., because those rigorous mathematical and technological protocols protect it.

The Pros: 

Different From Traditional Banking Transactions

One thing people hate about traditional banks is the fact that they can…

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