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Coinbase Integrates Its Custody Service with OTC Desk, Conducts First Trade from ‘Cold’ Storage

  • Alex Morris
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    🏁💪Coinbase is working hard to keep up with its competitors in the cryptocurrency custody race🏎️


Coinbase Integrates Its Custody Service with OTC Desk, Conducts First Trade from ‘Cold’ Storage
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Coinbase, the leading US exchange, has recently made an announcement in its blog post about merging Coinbase Custody Trust with the company OTC desk. That allowed the crypto giant to conduct the very first OTC trade directly from ‘cold’ storage.

👉MUST READ Coinbase Custody Now Holds More Than $500 Mln in Digital Assets
Coinbase Custody Now Holds More Than $500 Mln in Digital Assets

Crypto Custody + OTC Trading

According to Coinbase, the tie-up is a ‘major unlock’ for their customers given that they are not able to get immediate access to liquidity. The timing is crucial in the highly volatile cryptocurrency market – it would take usually take more than 24 hours to transfer funds from cold storage to the exchange’s hot wallet. During that period of time, the price of a given asset can drastically change.


Fast and secure trading

Coinbase’s Sam McIngvale claims that the combination of its two services was a popular request with their customers whom the San Francisco-based company heard ‘loud and clear.’ Investors have a possibility to trade their funds in a snap without worrying about safety problems that are usually associated with hot wallets.

Keeping tabs on competitors

The news shouldn’t come as a surprise for anyone who’s been following the cryptocurrency custody race. As reported by U.Today, BitGo inked a partnership with Genesis Global Trading to allow its customers to buy and sell digital assets directly from cold storage.

Cover image via u.today
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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

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