Connect with us

Bitcoin

Circle Keeps Getting Investors Despite the Bitcoin Bear Market

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

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.

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pexels

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

Continue Reading

Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

Continue Reading

Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

Published

on

altcoins
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

Continue Reading

Elite