The volume of trading bitcoin derivatives on Asian sessions is almost identical to the similar indicators in the United States that differs markedly from the pattern that can be observed with other financial instruments. This feature was noticed by the founder of the famous trading company DRW’s don Wilson, writes CoinDesk.
In an interview with a financial analyst edition Quartz launched the Singapore Consensus conference 2018, John Wilson shared their observations regarding the trends of cryptocurrency trading, as well as opinion about the future of technology.
When the conversation touched upon the issue bitcoin futures on U.S. exchanges that offer CME and CBOE, Wilson noted that for similar financial instruments and there is demand in Asia.
“If you look at data for bitcoin futures from CME and CBOE volumes in the Asian sessions are almost the same as in the United States. At the same time, transactions in foreign currencies, even in a pair of yen-dollar, the volumes in Asia are much lower,” he said.
DRW were one of the first financial institutions applying to cryptocurrency trading. In 2014, she launched a specialized OTC platform Cumberland, as he wrote in the last year, the Wall Street Journal, in 2016 the volume of trading in bitcoin, Ethereum and other scriptactive it exceeded $20 billion.
Explaining the decision to launch the cryptocurrency OTC platform, Wilson said that the idea was born due to the belief in this property of cryptocurrencies, as decentralization.
“Bitcoin is often called a store of value. But more interesting I think the usefulness of bitcoin. The ability to move value without having to trust the system – it’s really a breakthrough idea,” the businessman said.
At the same time, he believes that the lack of reliable solutions for storage might be one of the key obstacles to the wider acceptance of cryptocurrency trading.
Also don Wilson commented on yesterday’s report, the General attorney’s office in new York, where the regulator said that stock exchanges may be vulnerable to price manipulation, and also probably violate the laws of the state. Agreeing on many points with the representatives of the Ministry, however, he noticed that one of the biggest problems is the lack of clarity from regulators.
“This uncertainty may deter innovative projects and force them to move to other jurisdictions with more clear rules, for example, in Switzerland or Singapore,” said Wilson.
We will remind, earlier in September, British trading platform digital assets, Crypto Facilities has launched a perpetual futures contracts in pairs XBT/USD, ETH/USD BCH/USD, XRP/USD, LTC/USD and XRP/XBT.