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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
Source: Pixabay

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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Binance Coin [BNB] registers ATH as it surges by over 16,000% since inception

Namrata Shukla

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Binance coin [BNB] registers ATH as it surges by over 16,000% since inception
Source: Pixabay

The cryptocurrency market continued to register massive growth, as the prices of most major cryptocurrencies soared. However, the late entrant to the list, Binance Coin [BNB] is posing to be tough competition for other coins in terms of performance. BNB which entered the crypto market in July 2017, breached its all-time high and was trading at $28.79, at press time.

Source: Trading view

Source: Trading view

Binance Coin started out in July 2017 with a value of $0.1927 and marked its all-time high on May 18 at $31.91, according to the Trading View chart of the coin on Binance. BNB noted the growth of a massive 16,458.31% since 2017. However, until the beginning of 2019, BNB was valued at $6.59, after which the coin noted a surge by 384.15% and peaked at $31.



Source: CoinMarketCap

Source: CoinMarketCap

In the month of May, BNB noted a 28.16% growth, and the coin was valued at $28.66, with a market cap of $4.04 billion. The 24-hour trade volume of the coin was reported to be $551 million as it spiked by over 10% in a day. In the past seven days, the coin grew by 35.97%, but slipped by a minimal 0.25% in an hour.

BNB was highly traded on its native exchange, Binance via the BNB/BTC and BNB/USDT pairs. The BNB/BTC trading volume noted on Binance was $140 million, while the volume reported on the BNB/USDT pair was $132 million. The third place was taken by BKEX via the BNB/USDT pair as it registered a trading volume of $72 million.





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