In February, the volume of futures trading on the platform Crypto Facilities has increased more than 500% and reached 1 billion. the company noted that such strong growth was associated with the purchase site a crypto currency exchange Kraken in the beginning of the month.
Crypto Facilities offers futures contracts on the five cryptocurrencies: Bitcoin, Ethereum, XRP, Litecoin and Bitcoin Cash. The growth was observed on all of them.
“I think it is obvious that the support of a major U.S. exchanges have helped and, obviously, the Kraken opened up our products to a very loyal user base… Branding Kraken has a lot of weight…growth also contributed to the fact that we support contracts for the five main coins,” said Director of indexes and pricing of Crypto Facilities sui Chun (Chung Sui).
Data on volume of trading in the period prior to the acquisition, the company has not announced. But it is admitted that the transaction with Kraken greatly influenced the liquidity of the contracts:
“Five days before and five days after the announcement of the transaction, the liquidity of our contracts has increased more than 200%, and some of the contracts associated with the smaller coins, the increase was over 1000%”.
Under the “smaller coin” means Litecoin and Bitcoin Cash.
Audience platform in the last month also significantly increased (by 400%), the majority of new clients come from Kraken. In numerical terms, it is about 5,000 people.
Since the US resident is not allowed to trade on the platform, the user base of Crypto Facilities consists of the inhabitants of Asia and Europe.
In the near future the company plans to update the user interface platform and release a number of new products, but the details are not yet disclosed.
Recall that the crypto currency exchange Kraken announced the purchase of the London platform Crypto Facilities on February 4.