Trading Volume Has Increased 2,000% Since 2018

Nelson Minier, head of over-the-counter (OTC) buying and selling at main cryptocurrency platform Kraken, has said that the OTC desk’s trades per thirty days have elevated by an element of 20 for the reason that starting of final 12 months.

Minier gave his remarks in an episode of The Block’s podcast, The Scoop, on Aug. 20. Minier additional remarked that “Bitcoin and Ether are the massive — the whales of our desk,” moreover estimating that Bitcoin (BTC), Ether (ETH), Bitcoin Money (BCH), Monero (XMR), and Tether (USDT) have been the highest 5 cryptocurrencies traded by quantity.

Minier additionally gave his projections on BTC value, saying:

“I don’t see demand for this asset happening. However I do know that offer is gonna get reduce in half, a while Might 2019. And I feel one other factor I find out about Bitcoin is that greater value is one of the best advertising software we now have.”

Kraken’s lawsuit concerning OTC location

In April, former Kraken worker Jonathan Silverman sued the platform for upwards of $900,000. Silverman reportedly managed Kraken’s buying and selling desk in New York, however was not compensated in accordance with an oral settlement with Jesse Powell, Kraken’s founder. Silverman moreover specified that Kraken was mendacity about not working in New York. In his lawsuit, Silverman mentioned:

“Misrepresenting to the general public and authorities regulators that it was not working in New York; when in actuality, Kraken’s OTC apply, and OTC buying and selling (together with logging into the Kraken trade and negotiating wire transfers) occurred nearly completely in New York.”

Nonetheless, a spokesperson for Kraken, Christina Vee, retorted that Silverman was “each mendacity and in breach of his confidentiality settlement.”

Kraken’s web site troubles

As beforehand reported by Cointelegraph, Kraken has lately seen some troubles with its web site and software programming interface (API). On Aug. 13, Kraken introduced on Twitter that it was receiving experiences of connection points, each for the location in addition to its API.

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