Cryptocurrency
Crypto isn’t going to see exchange consolidation for 2 reasons, according to trading exec
As reported by The Block, “It seems like it’s almost every month that a new exchange launches in the cryptocurrency market. “Over the last year, a number of new crypto marketplaces have come online including derivatives players like CoinFLEX and institutional-aimed venues like AAX in the United Kingdom. In the last few months, The Block data shows that […]
As reported by The Block, “It seems like it’s almost every month that a new exchange launches in the cryptocurrency market.
“Over the last year, a number of new crypto marketplaces have come online including derivatives players like CoinFLEX and institutional-aimed venues like AAX in the United Kingdom. In the last few months, The Block data shows that legitimate trading volumes on spot crypto exchanges is down more than 50% since June.
“The increase in competition and decline in volumes might seem like the perfect recipe for consolidation, but Max Boonen, the chief executive officer of over-the-counter trading firm B2C2 says that is not the case.
“‘I used to think they would consolidate, but I don’t think so,’ he said on a recent episode of The Scoop.
“He noted two reasons. First, he said the 2017 boom provided many exchanges with a solid war chest to stay in business and compete. At the same time, captive user-bases keep clients trading on various platform…”