Whispers that “Institutional Investors are coming to crypto” have been bandied about for the past year and a half or so. Names of some high-profile institutions are being dropped in relation to the development of cryptocurrency products, including Goldman Sachs’ creation of crypto custody and derivatives products, Fidelity’s cryptocurrency trading company, Nasdaq’s plan to launch Bitcoin Futures contracts, and NYSE’s owner’s cryptocurrency platform focussed on institutional investors. Yet will the 2018 downturn in value of cryptocurrencies have a decisively negative impact on large institutional players joining in? Or does the prospect of institutional investors mean a maturing of the markets and fresh influx of capital?
2018 was a tumultuous year for cryptocurrencies. Crypto values tumbled, ICOs fell out of popularity, institutional traders considered dipping their toes into the market, while regulators sat up and took notice. What can we expect from 2019? More of the same, or will new developments shape the industry in a totally different direction?
CryptoCompare, today published its monthly Exchange Review for October 2018, designed to offer institutional and retail investors insights into the cryptocurrency exchange industry. The monthly review includes exchange trade data; order book and web traffic analysis; news highlights; exchange market segmentation; an overview of trans-fee mining and decentralised exchanges; information on volumes and pairs including Bitcoin to Fiat volumes; as well as exchange security and KYC requirements.
The CryptoCompare app gives traders and investors the ability to monitor live bitcoin and altcoin pricing data, track cryptocurrency investments through multiple portfolios and get the latest news in the crypto space while on the move. Users of the mobile app can also stay informed with historical charts and technical analysis of all major exchanges and over 5,500 coins. The mobile app provides the critical information necessary to make smarter investment decisions based on insights gained from CryptoCompare’s real-time, historical and blockchain data for each currency. The app’s coins list displays real-time data from over 130 exchanges and most cryptocurrencies. The advanced charting tools enable investors to identify coin price trends, apply technical analysis and spot trading patterns.
Adoption of cryptocurrencies is increasing exponentially, with some reports of crypto exchanges adding more than 100,000 users per day. Likewise, institutional investors are actively monitoring the asset class, given the usefulness of cryptocurrencies in the diversification of portfolios. Last year alone, the buying and selling of digital currencies generated $1.8 billion of fees at the largest crypto exchanges, which is equivalent to approximately 8 percent of the revenue seen on traditional exchanges. Whilst cryptocurrencies have had their detractors in the past, that viewpoint is clearly changing at a rapid pace with many more wagering crypto is here to stay.
CryptoCompare, the global cryptocurrency market data provider, has today published the ‘Cryptoasset Taxonomy Report’. The taxonomy provides retail and institutional investors, regulators and the industry as a whole with an independent classification of cryptoassets, based on the depth, breadth and scope of CryptoCompare’s global datasets.
The MJAC & CryptoCompare London Blockchain Summit will take place on Friday, November 30th at Old Billingsgate, London. The event will host pioneers, innovators and thought leaders of the blockchain industry alongside an exhibition of eminent and emerging companies that are making waves in the sector. Those already confirmed for the show include: Circle, Coinfloor, NKB Group, Ripple, Coinbase, BlockEx and Cumberland.
CryptoCompare, the global cryptocurrency market data aggregator, has entered into a strategic partnership with Thomson Reuters, the world’s leading source of news and information for professional markets. Under the agreement, CryptoCompare will integrate order book and trade data for 50 coins, sourced from a wide variety of trusted exchanges, into Thomson Reuters financial desktop platform Eikon, providing institutional investors with reliable insight into the crypto asset market as a whole.