The Winklewoss brothers launch trade of bitcoin and Ethereum blocks
The Gemini currency exchange, owned by the Winklewoss brothers, published a report saying that from April 12, large investors will be able to trade entire blocks of BTC and ETH. The launch will provide additional liquidity for the cryptocurrency market. Also, it will allow reducing the impact on the price of digital assets for large investors.
The minimum deal size in the new option is 10BTC or 100ETH. Large transactions will not be recorded in the main order book. For this purpose, it is planned to create a special register. Information about each transaction will be sent simultaneously to all market makers. Thus, they will be able to assess the degree of market interest in a particular asset.
In 2018, the Gemini exchange intends to significantly expand trading opportunities for its users. Earlier it was reported that the platform of the Winklewoss brothers is going to add to the listing of new digital tools in the current year. The list includes Litecoin and Bitcoin Cash. In addition, Gemini has entered into a partnership agreement with the Chicago Option Exchange to launch trade in cryptocurrency derivatives.
Also, the cryptocurrency market continues to decline. Tom Lee, the Wall Street analyst, believes that the drop in the price of major digital currencies is caused by US tax payments. To pay off obligations to the US budget, private traders and crypto exchanges are forced to exchange tokens for US dollars. This leads to a significant outflow of capital from the digital currency market.