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Institutional Investors Begin To Buy Tokens Bypassing Exchanges

Published: 02/10/2018
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What is it for?

Institutional investors pump into cryptocurrencies much more actively than most observers assume, Bloomberg reports.

 

Bobby Cho, the head of crypto trading at Cumberland, a division of DRW company specializing in over-the-counter trading, stated that hedge funds ousted large private investors, carrying out transactions worth more than $100,000.

 

Traders, including miners, regularly sell mined cryptocurrencies without waiting for the growth of their rate for the wholesaling. At the same time, many developers create their own platforms to conduct transactions.

 

Cho stressed that the current situation means that the crypto industry is approaching a professional level, and the sphere of digital currencies is leaving behind the Wild West era.

 

According to a research by Digital Assets Research and the TABB Group, the daily trading rates ranged from $250 million to $30 billion on the OTC market (Over-the-counter or off-exchange trading) in the spring. According to CoinMarketCap, transactions for an average of $15 billion per day are conducted on crypto exchanges.

 

 

Source: bloomberg.com

 

The head of the Cumberland postulated that more than 30% of the company’s transactions are done during the working hours of Asian digital markets. According to him, enterprises with a large capitalization volume often carry out trading deals using the OTC instruments, disregarding rate fluctuations.

 

Travis Kling, the founder of the Ikigai hedge fund, believes that today miners can provide large investors with the so-called “virgin” tokens, essentially those not involved in any fraudulent transactions. For such digital coins, investors are sometimes willing to pay additional 20% on top of the set price.

 

As previously reported, Bitfinex increased the market supply of the Tether token (USDT), pegged to the US dollar.

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