Cryptocurrency has seen an increase in mainstream consideration beginning final fall — earlier than COVID-19 measures took off, in accordance Float
Cryptocurrency has seen an increase in mainstream consideration beginning final fall — earlier than COVID-19 measures took off, in accordance Floating Level Group, or FPG, an algorithmic buying and selling expertise startup conceived at MIT.
“An growing portion of our inbound prospects are established business individuals coming from FX, equities and derivatives markets,” FPG co-founder Kevin March instructed Cointelegraph on Might 28 after confirming the presence of elevated mainstream crypto buying and selling curiosity.
Cryptocurrency alternative knocking
Abiding with U.S. regulation, FPG affords institutional gamers numerous instruments, APIs and different tech for commerce automation. March famous similarities among the many incoming crypto buying and selling curiosity.
Elaborating, he added:
“The cryptocurrency markets supply a novel and engaging line of enterprise ripe with alternatives for asset managers and a flashy approach to usher in extra purchasers for service suppliers.”
Rallying in value greater than 170% from its coronavirus-induced 2020 low, Bitcoin has seen numerous conventional market entities categorical curiosity within the business in current weeks, together with billionaire hedge fund founder Paul Tudor Jones.
The development began final fall
Though cryptocurrencies have seen rising costs and a spotlight since COVID-19 measures and worry picked up globally in March 2020, FPG noticed crypto curiosity begin its climb in This autumn 2019, March mentioned. “The Covid-19 pandemic appears to have had little impact on this development,” he mentioned, including:
“In truth, the inactivity related to working from dwelling could give lots of the related choice makers a propensity to assume exterior the field and contemplate new strategic initiatives like venturing into cryptocurrencies.”
Final week, FPG attracted $2 million from numerous buyers, together with AngelList founder Naval Ravikant.