According to the Grayscale Investments fund, in 2019 fiscal year, the cryptocurrency attractiveness for investors continues to be high. The past period turned out to be a record one; in total, the fund received $ 359 million. They also speak positively about the current situation on the Binance stock exchange.
In its report over the past 12 months, Grayscale Investments reports a growing interest in big business in digital financial assets. Although the main placements came in the first half of the period, the fourth quarter is also not a failure. Over the past three months, $ 30.1 million was received. If we consider that the fund for the whole 2017 could receive $ 95.4 million, the figure for the fourth quarter looks more than worthy.
It is noted here, that institutional investors, who are just beginning to show an interest in cryptocurrency, allocate a significant part of the funds. They now account for more than 55%, with an average size of such a unit of $ 848,000.
Institutional investors are large players in the financial market with a significant stock of liquid capital. First of all, these include pension and hedge funds.
Over the past year, the share of big capital in Grayscale Investments has remained stable. They give from 50 to 60% of all attracted funds. Of all the assets of the cryptomarket, such players prefer to buy Bitcoin, it accounts for 63% of all investments. For the remaining six coins with which the fund operates, about 37% of the capital remains.
Binance also does not see a reason for pessimism on the cryptoexchange. Its financial director, Wei Zhou, told CNBC in an interview that the business continued to be profitable. The company's policy does not allow disclosure of specific data, but indirect signs confirm the correctness of these words.
Binance cryptoexchange was founded in 2017, and for six months was able to enter the TOP-10 largest sites in terms of turnover. The total number of customers exceeds 8 million people. Through Binance platform Jersey allows the exchange of tokens for fiat money.
To maintain BNB's own tokens, every fifth dollar of profit is sent to “burn” of excess liquidity. On this basis, The Block experts calculated the financial results of 2018 - a profit of $ 446 million. Although before this, Binance Head Changpeng Zhao talks about a possible income of $ 1 billion. However, the market situation allows even a smaller amount to be called a decent result.
In general, the situation on the cryptomarket indicates the end of a bearish trend. After falling to the mark of 3500.00, the quotes went to a sideways movement. Despite a number of negative news, investors no longer seek to open short positions.
Now the market is waiting for permission to trade Bitcoin-ETF contracts from SEC, which will increase investors’ interest in cryptocurrency. At the same time, traditional tokens are beginning to feel pressure from the stablecoins and state coins. In the near future, bank tokens may also appear, which will radically change the balance of power.