Poloniex merged with financial services company Circle in February this year. It currently ranks 47th in the world among crypto exchanges by trade volume. They have launched a dedicated offering for institutional traders. “Institutions large and small can enjoy the benefits of our large curated selection of crypto asset trading pairs, dedicated support and robust API services,” the company’s blog post claimed. The users of the new service will be able to do so subject to a minimum trade of $250,000. The company will also jettison fees for all traders of BTC/USDC for the month of December.
The current trends in the crypto market seems like a a downward slope in the roller-coaster. This shows the utter requirement of the institutional intervention in the cryptocurrency market. KPMG, a Netherlands based auditor released a report on cryptocurrencies. The report is focused on the requirement of the cryptocurrencies for institutional investments and also the problems faced in blockchain management. The report suggested that the institutions must join the game and make the cryptocurrencies realize their complete potential. Cryptoassets are a big deal and they are worth investing in. These downward trends can be met only if the game-play roles are changed.