- Traders should expect continued volatility in the coming weeks.
- Bittrex to offer “guaranteed pricing” for significant trades, “typically $250,000 or greater.”
The volatility in the cryptocurrency market is back. It is believed that the famous crypto whales are in action and that traders should expect continued volatility in the coming weeks. Bitcoin descended below $3,500 yesterday; a move that refreshed 2018 lows in the minds of investors. Although there has been a slight correction, the asset is still capped below $3,600.
Contrary to the above gloomy news, one of the United States-based cryptocurrency exchange, Bittrex is said to be launching an over-the-counter (OTC) trading desk according to a report published by CoinDesk, a crypto news outlet.
The new product is to give customers an opportunity to “quickly and conveniently trade assets.” The platform will have support for at least 200 digital assets. During the announcement on Monday, Bittrex said that it will offer “guaranteed pricing” for significant trades, “typically $250,000 or greater.”
OTC trading is facilitated directly between a couple of parties. It is different to exchange trading where the buy and sell takes place using an order book. The new service is expected to go live at 18:00 UTC. The CEO of the exchange, Bill Shihara commented:
“With one of the most extensive selections of digital assets of any OTC desk available, this offering will be another way for Bittrex to further advance adoption of blockchain technology worldwide, while also providing our customers with price certainty and a fast and easy way to trade large blocks of digital assets.”
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