A crypto analytics app has been launched by altFINS, a cloud-based platform. This will enable active crypto traders and investors to analyze, screen, and trade altcoins across an array of crypto exchange platforms.
Massive Levels of Bitcoin Demand
Glassnode stands as an on-chain analytics firm and has provided data regarding Bitcoin and its ongoing daily demand. According to Glassnode, the demand stands higher today than it was any time since the great crypto bubble of 2017.
Venture capital investors from both traditional and blockchain-focused backgrounds, such as Andreessen Horowitz, Valar Ventures, Lightspeed Venture Partners, Union Square Ventures, ConsenSys, Morgan Creek, Galaxy Digital and Polychain Capital have all taken part. These heavyweights have thrown in millions of USD in funding in order to upgrade the crypto infrastructure throughout these past 12 months.
Traditional Institutions Probably Going Crypto By 2022
Grayscale Investments stands as an institutional cryptocurrency investor. It’s managed to record the largest quarterly ever, standing at $906 million for the second quarter of 2020
CME Group and Acuiti have also been making moves. In a joint survey they did, they speculated that a staggering 97% of all traditional finance firms that had decided against trading in crypto would start to revisit the idea by 2022’s time.
altFINS had also recorded an impressive seed financing of more than $1 million in total back in July of this year. IN a public statement regarding this seed funding, they stated that the funds will be used to develop analytics for pre- and post-trade when it comes to crypto investment.
An Innovating World
Richard Fetyko stands as the founder and CEO of altFINS, and gave a public statement about the matter in particular. With this new app, Fetyko explained that crypto traders are capable of finding trade ideas with ease. Furthermore, they can screen more than 4,000 trading pairs and 1,000 coins in order to find chart patterns and major trends. They are also capable of monitoring their performance and portfolios across a multitude of crypto exchanges.
A key factor as to why institutional investors are becoming more and more keen on crypto, is actually the fact that the derivatives market has started to mature considerably. As institutional players become more and more invested in cryptocurrencies, it’ll only be a matter of time before mainstream adoption occurs. Eventually, traditional finance will have cryptocurrencies stand alongside it.
As it stands now, it remains to be seen how the crypto space will influence the world.