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Bakkt will bring liquidity and contribute to the ‘maturing’ of the industry, says EXMO Exchange’s Sergey Zhdanov

Jibin M George

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Bakkt will bring liquidity and contribute to the 'maturing' of the industry, says EXMO Exchange's Sergey Zhdanov
Source: Pixabay

The impending launch of Intercontinental Exchange’s digital asset platform, Bakkt later this year has contributed to a rising degree of confidence in the cryptocurrency market, especially from many institutional investors. This is a sentiment that is shared by many in the cryptocurrency business as well, including EXMO Exchange’s Sergey Zhdanov.

EXMO Exchange, based in the U.K is one of the largest cryptocurrency exchanges of its kind in Europe and boasts a user base of 1.5 million customers and an average monthly trading volume of $1.5 billion. In an interview released on the exchange’s Medium channel, CEO Sergey Zhdanov shared his thoughts on what the release of Bakkt would mean for the cryptocurrency market in 2019.

Zhdanov in his interview suggested that with the release of Bakkt, more and more interest from institutional investors is likely to be generated in the cryptocurrency market. However, contrary to some who fear that rising institutional interest will generate an equal degree of regulation, Sergey Zhdanov has welcomed it instead and said,

“I am convinced that regulation will unambiguously stimulate the market.”

While lauding the fact that Bakkt will offer more liquidity to the cryptocurrency trading market and will allow investors to trade in futures and options, Zhdanov also suggested that greater institutional interest will be a tangible success for the market. Furthermore, he claimed that cryptocurrencies offer most investors the best option to diversify their portfolios.



However, Bakkt wasn’t the only issue Sergey Zhdanov spoke on. He also dismissed notions about the misplaced perception that cryptocurrency exchanges have the most protected position in the cryptosphere and are guarded against the risks and volatility of the market.

Finally, commenting on the likely state of the cryptocurrency market in 2019, Zhdanov stated that the hype about cryptocurrency is finished. Instead, the stage of consolidation has arrived where smaller players may leave the crypto-space because of falling profits, he said. Talking on the issue of regulation of crypto-space again, Zhdanov ended the interview by saying that the cryptocurrency market is likely to be in for a rapid expansion in terms of value if government-mandated regulations are able to minimize the risks associated with cryptocurrencies.





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Bitcoin

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

Priya

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John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
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Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





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