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OKEx partners with crypto trading platform Caspian to usher in institutional trading

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OKEx partners with digital assets exchange Caspian to usher in institutional trading
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OKEx, the cryptocurrency exchange, is pushing the institutional side of virtual currency trading by joining forces with Caspian, the crypto trading, portfolio and risk management platform. According to a joint press release published on May 15, the duo’s aim is to “support the institutionalization of cryptocurrency trading.”

Caspian, the cryptocurrency trading and risk management platform will provide the support and infrastructure to usher in the “institutional adoption of cryptocurrency trading.” The platform will integrate both futures and spot products offered by OKEx into their crypto-order and execution management system (OEMS).

The press release added that the partnership will focus on the Chinese market initially, before moving on to the global market.
OKEx’s Vice President James Jiang, stated:



“There is huge potential for institutionalization of crypto in China and more broadly. We are delighted to have teamed up with Caspian to help facilitate our clients’ needs in this space”

Institutional investors are the new target market for the cryptocurrency industry with several top players entering the fray in recent months. Among them, the standout is undoubtedly Fidelity Digital Assets which stated that it would be commencing cryptocurrency trading in the upcoming weeks, with Bitcoin as their primary cryptocurrency on offer.

Caspian is the product of a partnership between Kenetic Capital, a Hong Kong-based cryptocurrency firm, and the American trading services company, Tora. In September 2018, the Caspian project saw a massive $16 million investment from Galaxy Investment, Octagon Strategy, Global Advisors and Bletchley Park and Kenetic.





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Bitcoin

Bitcoin [BTC]: Don’t buy BTC at the top, buy it right now, says CNBC’s Brian Kelly

Akash Anand

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Bitcoin [BTC]: 'Don't buy BTC at the top, buy it right now', says CNBC's Brian Kellyq
Source: Pixabay

Bitcoin’s [BTC] rapid movement on the cryptocurrency charts revitalized an industry which was touted to be dead and buried in early 2019. The events over the past few weeks have not only increased the value of Bitcoin, but have also assisted in raising the collective market cap and the prices of other cryptocurrencies.

Giving more insight into this market movement was CNBC’s Brian Kelly, who touched upon the price fluctuations, as well as where the world’s largest cryptocurrency can go from here. The Bitcoin baller claimed that the 100 percent bounce back from Bitcoin’s lows was a great incentive for new investors. It also provided a reprieve for existing players in the market. Kelly claimed,

“Investors are wondering what the next market driver could be and in my opinion there are a couple of things. First of all we are starting to see the institutional players get into the field, evidenced by the entry of Fidelity and other such companies. Even the retail perspective is huge, with TD Ameritrade investing in Eris X with sources claiming that the organization will open BTC trade for customers in the  next three to six months.”

Kelly also spoke about how the market was entering a phase of a supply cut, where the supply of Bitcoin gets cut in the overall spectrum of the market. According to him, there is generally a price rally a year into the rise and a year out of it, and the combination of the supply cut and the rise in demand will be beneficial to Bitcoin’s price.



The CNBC official was also careful to inform holders and investors that while the price is holding at this point, people need to be careful since the market might be in the mood for a reversal. He warned,

“Do not buy it at the top but rather buy it now.”

At the time of writing, Bitcoin was trading at $7943.23, with a total market cap of $140.712 billion. The 24-hour market volume was holding at $24.816 billion and the BTC market was moving up by 0.45%.





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