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CaptainCrypto589

Nasdaq now actually lists XRP ETH BTC and ADA, with the launch of BAKKT coming next month is this the sign that huge institutional investors are about to invest? If people like us got the price to nearly $4 a coin, surely the big boys will push it higher?

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1 hour ago, Roaring_Twenties said:

I’m going to pass on answering your first post question...but I do like your post!

The climb up to $7B in assets under custody makes for a nice visual indicator of the market over time.

 

4BB62BB9-013A-4702-82F1-72E407D81FC9.png


"California-based cryptocurrency exchange Coinbase has acquired Xapo’s institutional business. The deal is said to be struck at an amount of $55 million, as per industry reports.

The acquisition has escalated Coinbase’s ‘Assets Under Custody (AUC)’ mark to over $ 7 billion thereby, making it the world’s largest crypto custodian in a span of one year, Coinbase claimed in a statement. The AUC count is for more than 120 clients in 14 countries."
 

https://ibsintelligence.com/ibs-journal/ibs-news/coinbase-finishes-55mn-acquisition-of-xapos-custody-business/

Still exciting growth nonetheless.

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4 hours ago, ZerpEnthusiast said:

I posted this in another thread. Armstrong claims that Coinbase is experiencing a lot institutional demand. 200-400M per week. If I had to guess, they're loading up on BTC. 

So institutions are depositing their crypto to Coinbase to sell it? If they wanted to buy Crypto they would be depositing fiat right? ;) 

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12 minutes ago, AlejoMoreno said:

So institutions are depositing their crypto to Coinbase to sell it? If they wanted to buy Crypto they would be depositing fiat right? ;) 

Possibly, but I moved some into the service to have insurance, to sell and convert. I’m sure people have moved their crypto there for a sense of security and not having to leave all their coins on a pen stick! There are people who like the custodian appeal rather than making a **** of themselves, when moving coins  🤣🤣

 

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2 hours ago, AlejoMoreno said:

So institutions are depositing their crypto to Coinbase to sell it? If they wanted to buy Crypto they would be depositing fiat right? ;) 

No, they deposit it for safe keeping.  Reliable custodian services are a per-requisite for institutional involvement and potential future derivative products, so increase in use of custodial services is a good sign.  

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2 hours ago, Trentsteel said:

Possibly, but I moved some into the service to have insurance, to sell and convert. I’m sure people have moved their crypto there for a sense of security and not having to leave all their coins on a pen stick! There are people who like the custodian appeal rather than making a **** of themselves, when moving coins  🤣🤣

 

Haha there are many people that agree with you. Despite the popularity of the ledger and all other wallets, a lot of people prefer a custodian. Honestly, using a ledger is similar to not using a bank and keeping all of your cash safe on your own; which many people would say is stupid.

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