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This deal ranks within the 10 largest in the history of the crypto industry (all of which involve a trading platform of some sort), which goes to show the continued interest in trading platforms as the retail trading market continues to expand - and the quality of assets becoming institutional grade. Given how the derivatives market is nowhere nearly as large as the general crypto commodities market, and FTX doesn’t have the same commanding market share as Binance, this won’t attract the same scrutiny as Binance’s acquisition of CoinMarketCap. A syndicated news story on Blockfolio could be augmented by FTX pricing data, and inversely FTX trading data could drive insights and analysis on blockfolio. FTX not only has “buy the top of the funnel,” to bring in someone looking for pricing data on a particular token, but it also has the bottom too: once the person buys and logs in, they will be looking at a hybrid of the two products. FTX has also launched trading products for the traditional commodities market such as oil. Presidential election, which currently give Trump a slight edge over the national aggregated polls from 538. At the same time, in the past year FTX has launched products with a more retail focus, such as a futures market for the 2020 U.S. Think of it as a mini-Bloomberg for traders.
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This is largely because FTX targets a quiet, professional crowd of quants and pro-traders.Īnd this is why the acquisition of Blockfolio makes perfect sense: it’s a mobile-first platform that targets the retail investors with pricing, news and market data. However, it’s not as noisy as its rival derivatives exchange BitMEX, or as large as exchanges such as Binance that have entered the derivatives market. Solana is a layer 1 proof-of-stake blockchain that can support up to 65,000 transactions per second.įTX is one of the new kids on the block(chain), taking advantage of the growing interest in cryptocurrency derivatives.