Dec 12, 2019 12:06 UTC
Dec 12, 2019 at 12:06 UTC
In 2017 the whole crypto-sphere including government and media witnessed one of the most eye-opening bull runs, deja vu in the cryptocurrency market. From $17 billion, the market cap climbed to over $800 billion, reaching its acme on the 7th of January 2018 to nearly $814 billion. The unbelievable climb has clearly grabbed the attention of many experienced- and new investors alike. However, as unbelievable as was the climb, as incredible was the ‘correction’ that soon followed after. Ever since reaching its acme, the market has been in a rapid decline, with its current low reached on the 30th of March 2018, hitting somewhat north of $254 billion.
When Prime Brokers Enters Crypto
The sweet memories of our once glorious portfolio, many are left scratching their heads wondering: “What did I do wrong?”. However, from this phenomenon, the numbers of Crypto Investors and Traders grow rapidly. But, despite the growing popularity of cryptocurrencies, people, in general, are still skeptical to consider it as an efficient medium of trading and investing, as many cryptocurrencies exchanges no longer support all the things that a trader needs. From Here, Prime Brokerage Services Are Coming to Crypto.
Crypto, thus far, is lacking its Goldman Sachs. Sure, it’s got giants in Binance, Coinbase, and Huobi, but no one can provide a complete suite of services for institutional investors. But all that could be about to change. Troy Trade, a Hong Kong-based company is one of the firms gunning for the mantle of crypto prime brokerage. It promises to supply sophisticated investors with the sort of tools that the Goldmans of the world have been providing financial firms for years.
Instead of opening a new Crypto exchange, Troy Trade just focused on professional traders. It is designed for professional traders and large money managers. Unlike centralized exchange who takes your…