JP Morgan, If You Consider Inflated Trading Volume, Institutional Investment Has Greater Effect

According to the JP Morgan report, the impact of largest finance company such as Jp Morgan engaging in futures trade in the cryptocurrency market has a significant impact on the industry. 

Cryptocurrency exchanges, which are generally known to have little regulatory jurisdiction except for some large exchanges, were pointed out in March by cryptocurrency research firm, BitWise to inflate transactions on 95% of the exchanges. BitWise's comments have been rectified, but the problem of inflating transactions, which can be a good indicator of the state of investment, is one of the key problems for the cryptocurrency industry.

In a report released last Friday, Nikolaos Panigirtzoglou, an investment analyst at JPMorgan, claimed that the importance of bitcoin futures in the cryptocurrency market is far more influential than data-driven indicators, citing the trading volume, which has been an indicator of rankings and individual investors.

Assuming that the original volume was only 5 percent of the transactions reported in BitWise's report, $362.5 billion out of $725 billion in May could be expected as the trading volume. That is 33 percent of the $12 billion traded as a cryptocurrency futures for CME and Cboe in May.

In addition, under the current contract, bitcoin futures of CME or Cboe do not include actual stocks, the impact on stock market prices is expected to grow more when BAKKT's actual stock enables futures trading, it will have significant impact in the actual stock market.

With the cryptocurrency industry gradually developing today, the financial market-related advances include:

- Fidelity's entry into the custodian business

- BAKKT's bitcoin futures trading test in July

- Facebook releasing its cryptocurrency white paper

- JPMorgan launching its cryptocurrency

- Microsoft Blockchain Development

- IBM's blockchain development spurt

- Advent of cryptocurrency payments using Starbucks blockchain

- Multi-platforms enabling cryptocurrency payment in Amazon

- Investment in cryptocurrency for pension funds

Reporter Shinwon Kim (news@dailycoinews.com)의 기사 더 보기

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