North America is a hotbed of institutional investors
North American Investors Buying Millions of Dollars in Bitcoins
Trading activity set a record in May this year
The trend for the growth of institutional activity only at the initial stage
International consortium of news organizations developing transparency standards.
American professional investors provide impressive capital inflows into cryptocurrency markets led by bitcoin.
Institutional investors in the United States conduct transactions with bitcoin and other cryptocurrencies much more actively in comparison with their European and Asian counterparts, as evidenced by the report of the analytical company Chainalysis.
In its analysis of key trends in the North American crypto space, Chainalysis notes that professional investors continue to favor bitcoin, while other digital coins remain in the shadow of its glory. Moreover, the company’s experts believe that this is just the beginning of this trend..
The growing dominance of the North American professional cryptocurrency market since December 2019 is almost entirely due to transfers of $ 1 million or more, and, of course, most of these operations are performed by institutional investors..
Over the past two years, North America has seen the influence of a growing class of institutional investors, whose operations have provided the growing professional dominance of this market since the end of last year..
For comparison: as of the end of 2019, Bitcoin transactions of $ 1 million or more accounted for 46%, and in May this year they set a record of 57%. Meanwhile, the so-called professional market share, which consists of activity in institutional accounts, grew 87% to 92% over the same period..
Recall that last month, the institutional-oriented LMAX Digital platform reported record trading volumes, which in the first half of the year amounted to $ 36 billion against the backdrop of a pandemic that caused an increase in the volatility of cryptocurrency assets.
Meanwhile, bitcoin itself is in negative territory at trading on Friday, but suffers minimal losses. Yesterday, the cryptocurrency closed above the important resistance of $ 11,800, where it is at the time of this writing. Confirmation of the breakout of this level will clear the way to the psychological $ 12,000 mark.
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