Big Money OTC Trading Increasing, $99 Million Litecoin Transaction, Sentiment Improving
The CEO of Circle recently spoke with Business Insider on the growth of its OTC trading desk saying, "Minimum ticket size has moved up to $500,000 with an average of $1 million. Some transactions are over $100 million, and that water mark will continue to rise." Smart (big) money is definitely entering the world of crypto trading at an accelerating rate, even if some retail investors may have lost interest.
Meanwhile Litecoin recently saw a $99 MILLION transaction take place on their network, with the super huge fee of $.40, all settling in less than 3 minutes. I think this really goes to show the value behind cryptocurrency from a transactional perspective, as a transaction of that monetary value would take a few days minimum, and likely over a week in the traditional markets.
Circle Trading on increasing OTC demand: http://www.businessinsider.com/circle-trade-ups-bitcoin-trade-minimum-2018-4
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$99 Million Litecoin transaction: http://www.businessinsider.com/a-99-million-litecoin-trade-took-just-25-minutes-and-cost-040-2018-4
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Thanks for posting some solid information!
Big Money seems to be moving back into the crypto scene! Good to see a positive change.
Agree, nice to see some positive momentum again!
If bitcoin is gold, litecoin is silver!
and having a bit of both is golden!
I think one is just practical at the moment, and one is kind of less so. That litecoin transaction shows that a bit.
This continues to demonstrate that wealthy and institutional investors continue to come into the market and take substantial positions. Interesting to see how interests in OTC has gone up while the price has actually gone down. It seems like a contrarian sign or the need to consider the conspiracy theory that we have been witnessing price manipulation to the downside so that the money on the sidelines could come in a cheaper price.
I also think smart money realizes that now is a significant bargain in comparison to December/January and they're willing to take that bet
@cryptobobby, A lot of people have been willing to take that bet. Not just investors, miners too. GPU prices are probably never coming down.
Good post
Wow... 0_O That litecoin transaction took 3 minutes lol?!
Yeah, that's why I prefer using it as a medium between exchanges myself. You can work with it far easier than something like bitcoin or etherium which require more confirmations, more time and are generally more expensive on the fees to move. That's nuts, and personally validating my own strategy between exchanges. If only I had the $100M lol.