Crypto High and Rising
As institutions flock to crypto, here are the fundamental metrics that can be used to track their interest.
The growth of the crypto derivatives market in 2020 has been a story of its own, mainly driven by Bitcoin (BTC) and Ether (ETH) options traded on exchanges such as the Chicago Mercantile Exchange, Deribit, OKEx, Binance and Houbi. And there’s Ripples token, XRP rapidly gaining acceptance in a number of European banks and global money movers like Western Union.
Compared with traditional derivatives, the proportion of institutional investors in the entire pool is still small, but it is clear that the definitive rise in interest is driven by financial instruments such as options and futures. Options are not a panacea but rather a stage in the development of an asset, and as is evident, Bitcoin and Ether have both reached that point in their evolutions. Heard talking in NY Bob Rubiano, a respected Wall St. insider, echoed similar thoughts, stating that “the inflow of institutional investors money into crypto is still very nascent,” adding:
“There are however various indicators signaling the gradual adoption of crypto or BTC more specifically into institutional portfolios. Traditional finance tends to prefer traditional instruments like options and futures, volumes and open interest in those instruments are clear indicators of potential growing institutional demand.”
Bob went on to say XRP Is The Crypto To Watch.
XRP is designed to be an instant funds transfer application. It is attempting to take over all retail transactions and swift international money transfers. If you transfer money now internationally it takes a few days to receive and has fees associated with it.
XRP is instant and at a very low cost. In short, it has a functional use. Right now price is increasing on demand alone and its application has not been adopted to any great degree. When this happens there will be significant gains.
The latest news that PayPal may allow crupto payments further lends credibility to the space. And with a robust and vibrant market, plus the unprecedented uncertainty in traditional markets, this interest is likely to only grow.
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