Goldman Sachs backed Circle says crypto trading market is "robust"

in bitcoin •  2 years ago 

Circle says the cryptocurrency trading markets are robust, despite slightly less trading volume overall.

Circle Trade is the trading arm of Circle and they have recently increased their minimum trade size to $500k.

Before you freak out, Circle is not a normal crypto exchange. They offer services for large net worth investors in the OTC (over the counter) markets.

Exchanges like bittrex and kraken and many of the other retail exchanges could not accommodate an investor wanting to buy or sell $5 million worth of bitcoin all at once.

The order would take out the entire order book and make prices even more volatile than they already are.

That is where OTC exchanges come into play.

Volumes are down across the board but are increasing at Circle.

The average 24 hour trading volume is down to about $20 billion per day, whereas it was around $70 billion per day back in the early part of 2018.

However, at Circle large orders are starting to pick up.

Circle said that previously the minimum ticket size was $250,000 but has since moved up to $500,000 per transaction recently, with the average trade size in the $1 million range.

Circle also said that they did some transactions worth north of a $100 million.

Over the last couple of months Circle has done $2 billion per month on average in volume.


Circle has some other big plans for cryptocurrency.

You may recall hearing about Circle purchasing Poloniex several months back as well.

The plan is to turn Poloniex into one of the biggest cryptocurrency exchanges in the world.

Circle said they will be increasing the number of coins on the Poloniex exchange, increasing the regions where Poloniex makes markets, and also said they are looking at adding fiat on/off ramps on Poloniex.

It appears there are several large exchanges looking at adding fiat on/off ramps which could be very interesting for how it shapes the crypto markets going forward.

Bitcoin would no longer be the gateway drug for the entire crypto ecosystem.

More about Circle and their trading volumes can be found here:

Stay informed my friends.

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Let’s not forget they purchased 440k bitcoins during the dip to $5800. They are full invested

ya a touch biased

nice move

"... and also said they are looking at adding fiat on/off ramps on Poloniex."

Coinbase better up their game and start adding quality alts very soon, or the competition will eat them up in no time.

Agreed. I think they see that coming and are diversifying their revenue streams with all their recent acquisitions.

I'm sure like all other industries the ones making money early on will buy off regulators to make it tough for others to take market share. I hope crypto market grows so quick that the best get rewarded.

no wonder why there was a sudden jump, so big investor is now entering the crypto world, and i'm excited to that, i hope they will pour some of their money to steem :D. But having a almost a trillion marketcap for cryptos is just the beginning, and we wil see further institution to jump, after this regulation thingy. :)

Thanks for the info my STEEMING friend!

I can't wait to see what happens! Upvoted!!

Get in ahead of the heard. The elephants are coming. Exciting times are here again. :-).

How decentralized is Circle? If it is centralized, then we are still running into the major flaw/problem, down the road where everyone starts getting friendly with it, then it turns its back on us and bite us in the arse! This is a classic move and I wonder how this applies to this case.

Complimenting the crypto world by saying it is robust, means that the previous attacks were deep and strong enough to obliterate this new phenomena...

I'd rather put my money where decentralization is law, empowering us all while investing on a fully open and free platform such as the one Bitshares offers. Centralizing the trading toward a new hype might give exposure to this racket, but is it really there to stay or actually be benevolently helpful? I can't help but wonder, especially since there seems to be some degree of collusion between Goldman Sachs and this new venture...

Namaste :)

Yeah dude and now alts time go to moon haha


Damn, they didn't fall for it.

We are now offering coins, come one come alt!

This has been a paid advertisement.
Goldman Sachs the name to trust in alt coins.

(this poster is not in anyway associated with Goldman Sachs and makes no such warranties or guarantees of any Goldman Sachs products or services)

Oh the HUMANITY!!!!!

Coinbase and all exchange houses must change paradigms and improve due to the growth and competition in the virtual currency market.

  ·  2 years ago (edited)

Funny how a while back Goldman Sachs bashed cryptocurrencies, isn't it?

They saw that money could be made, follow the money they do.

Trading activity at one of the largest cryptocurrency trading shops is picking up despite a lull across exchanges that trade crypto.

In an interview with Business Insider, Circle chief executive Jeremy Allaire said the size of block trades made by Circle Trade, the firm’s over-the-counter trading desk, has grown since the beginning of the year.

That’s despite a sharp decline in cryptocurrency trading volumes across retail exchanges. Per data from CoinMarketCap, 24-hour trading volumes are down to about $20 billion a day from all-time highs near $70 billion at the beginning of the year.

  ·  2 years ago (edited)

Yep. Thanks for the quotes.

welcome dear @jrcornel

The financial services industry is at a tipping point-either disrupt or get disrupted. As start- ups and financial technology firms entice new and changing customers, those that demand customized and targeted experiences, how will the industry as a whole compete?The traditional banking system is gradually being overtaken by the blockchain technology creating applications such as cryptocurrency payment systems,peer-to-peer lending, money transfer services, wallets, and so on but its faced with many challenges such as making simple exchange transactions such as alt-currency exchange, one may have to juggle 3 to 4 interfaces. Typically one would have a bitcoin wallet, exchange wallet, and receiving wallets, plus the switching between platforms which practically raises error possibilities leading to a serious drawback for the average user, also how to get software vendors to make the investment to connect their exchange or market place. Although it is perceived that a superior application with a solution that can put together information and supports decision making, which will be in one platform and is accessible by all can normalise the already disrupted cryptocurrency exchange system.

Great article and very informative, thanks for sharing. I've smashed the upvote button for you!

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Wow, 2 billion per month, that's insane!

lol and i gaved up on trading have no time for that
made my target and left



I am an artist, writer/editor and photographer sharing my muse. I advocate blockchain technology and communities.
Darcy @fieldsofgold

Great news!

These Guys bankrupted. What do they know ??

He he roasted

Yes, in my opinion also the Crypto market is really strong and the ecosystem of Crypto will become more simplified in the future because still it's in an infant stage and many Crypto exchanges and Blockchain Technology coming up with different changes of ecosystem and but the core segment should be decentralised and this way the Crypto will move effectively towards the tracks of growth. Thanks for sharing and wishing you an great day. Stay blessed. 🙂

This is goodnews, I think the increase in sales is as a result of current increase in price of cryptocurrency.
I'm hearing about circle for the first time, but I'm already in love with their ambitions. It would give more recognition to other cryotos, bitcoin won't take all the glory.... Smile

Also good to have an alternative to coinbase

Big money is flowing in into crypto again that's why mainstream media is changing its stance towards cryptos now.

  ·  2 years ago Reveal Comment

The circle plan for Poloniex could really help Steem and also break the unhealthy co-dependency of Bitcoin with alt coins!

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.

Great post. I'd appreciate that you see my content as well. I do technical analysis for the community with a focus on teaching.

Right now I can only imagine that more investors are getting interested, with us at less than 50% ATH and the markets starting to heat up yet again...

Of course! Blockbasis, a cryptocurrency exchange platform, is delighted to see a major financial institution make such a statement. It helps to normalise cryptocurrency and make it a currency for the masses. This is an amazing piece of news as it encourages non-investors to recognize the value of cryptocurrency.

This is good news, the big boys are starting to make their moves which will create some positive movement for smaller investors.

if someone ask me... what u think about crypto market now? i am sure confused with the too much information or too little infortion i have.

poloniex, going to blow up i expect

  ·  2 years ago Reveal Comment

Thank you for the useful information.