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Alternative Market Briefing

Bitcoin to maintain market dominance by the end of 2019

Monday, November 25, 2019

Laxman Pai, Opalesque Asia:

Many institutional crypto traders expect Bitcoin to maintain a considerable market dominance by the end of 2019, which echoes their fear of the altcoin market losing interest from retail participants.

According to Binance Research, institutional crypto traders also have shown increased interest in crypto staking over other crypto services such as decentralized exchanges and lending.

Over a quarter of respondents have 7+ years of traditional finance experience and the vast majority of the respondents 1 to 3 years in the crypto-space under their belt.

The three most commonly followed investment strategies were high-frequency prop trading (35.5%), technical analysis (25.0%), and market-making (19.7%).

54% of respondents kept their crypto assets portfolio between 1-10 coins, a characteristic reflected across all investment and trading strategies.

Despite its ongoing legal issue being considered one of the most significant risks for the industry, USD Tether (USDT) remained the most widely used stablecoin (40%), for reasons quoted such as greater liquidity and higher market capitalization than its peers.

While alternative options are also being used, stablecoins backed by exchanges, like USDC (Coinbase, Circle) and BUSD (Binance), seemed to spark more prominent interest from many respondents than other (than USDT) fiat-backed competitors.

Regulations remained one of the critical aspects of interest, both as a risk and a potential......................

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