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Bybit Report Institutional Preference for Bitcoin

Bybit Report Institutional Preference for Bitcoin

Education

Bybit Report Institutional Preference for Bitcoin


Institutional investors are cautiously managing their crypto assets, allocating 45% to
stablecoins, 35% to Bitcoin, and 15% to Ether, according to the latest
report by Bybit. Interestingly, the client segment nearly doubled their Bitcoin holdings
within the first three quarters of 2023.

Bitcoin’s dominance surged amid the crypto rally in
October, fueled in part by institutional traders nearly doubling their Bitcoin
holdings. Conversely, Ether experienced declining interest from institutional
investors throughout 2023.

The anticipation of BlackRock’s spot Ether ETF
application could reignite excitement, while Solana’s remarkable tenfold growth
since its low prices in 2022 poses a competitive challenge for Ether. A significant upgrade
could potentially rekindle institutional interest in Ether, Bybit noted.

Retail traders have adopted a cautious approach to
crypto by holding more stablecoins, reflecting a conservative stance towards
riskier assets. Notably, altcoins form a minor part of both retail and VIP
traders’ portfolios, hinting at a cautious outlook influenced by the recent
market turbulence.

Bybit’s journey of growth extends beyond user
numbers. The platform has acquired licenses in prominent regions like the UAE,
Kazakhstan, and Cyprus to boost its risk management strategies and enhance compliance
with regulations. Recently, Bybit introduced TradeGPT, an AI-powered
educational tool that leverages real-time market data, trading analytics, and
technical analysis tools.

READ ALSO:  Bitcoin At $45,000 Is Mispriced, Will Race For ETF Fees Push Prices To Record Highs?

TradeGPT serves as a mentor, offering personalized
guidance and multilingual support to assist users in understanding market
trends and formulating effective strategies.

Bybit’s Focus on AI and
Global Expansion

Bybit’s foray into AI-driven tools aligns with a
broader trend in the cryptocurrency realm. The integration of AI witnessed
across platforms like Crypto.com and Binance underscores the synergy between
artificial intelligence and the evolving needs of the crypto community. AI’s
data processing capabilities complement the industry’s demand for real-time
insights.

Bybit’s Institutional platform is among the platforms attracting professional traders targeting cryptocurrency futures contracts. Notably, it has secured a prominent place in
total BTC futures open interest, affirming its standing as a go-to destination
for traders seeking lucrative opportunities in the BTC futures market.

Bybit’s strategic global expansion includes
establishing its global headquarters in Dubai and acquiring pertinent licenses,
aligning with regulatory frameworks in the UAE, Kazakhstan, and Cyprus.
However, in response to evolving regulatory norms in Canada’s crypto sector,
Bybit opted to withdraw its operations from the Canadian market.

Institutional investors are cautiously managing their crypto assets, allocating 45% to
stablecoins, 35% to Bitcoin, and 15% to Ether, according to the latest
report by Bybit. Interestingly, the client segment nearly doubled their Bitcoin holdings
within the first three quarters of 2023.

READ ALSO:  Bitcoin the ‘main beneficiary’ as crypto funds notch 10-week streak

Bitcoin’s dominance surged amid the crypto rally in
October, fueled in part by institutional traders nearly doubling their Bitcoin
holdings. Conversely, Ether experienced declining interest from institutional
investors throughout 2023.

The anticipation of BlackRock’s spot Ether ETF
application could reignite excitement, while Solana’s remarkable tenfold growth
since its low prices in 2022 poses a competitive challenge for Ether. A significant upgrade
could potentially rekindle institutional interest in Ether, Bybit noted.

Retail traders have adopted a cautious approach to
crypto by holding more stablecoins, reflecting a conservative stance towards
riskier assets. Notably, altcoins form a minor part of both retail and VIP
traders’ portfolios, hinting at a cautious outlook influenced by the recent
market turbulence.

Bybit’s journey of growth extends beyond user
numbers. The platform has acquired licenses in prominent regions like the UAE,
Kazakhstan, and Cyprus to boost its risk management strategies and enhance compliance
with regulations. Recently, Bybit introduced TradeGPT, an AI-powered
educational tool that leverages real-time market data, trading analytics, and
technical analysis tools.

READ ALSO:  From Fentanyl to Freon: Customs and Border Protection Seizures

TradeGPT serves as a mentor, offering personalized
guidance and multilingual support to assist users in understanding market
trends and formulating effective strategies.

Bybit’s Focus on AI and
Global Expansion

Bybit’s foray into AI-driven tools aligns with a
broader trend in the cryptocurrency realm. The integration of AI witnessed
across platforms like Crypto.com and Binance underscores the synergy between
artificial intelligence and the evolving needs of the crypto community. AI’s
data processing capabilities complement the industry’s demand for real-time
insights.

Bybit’s Institutional platform is among the platforms attracting professional traders targeting cryptocurrency futures contracts. Notably, it has secured a prominent place in
total BTC futures open interest, affirming its standing as a go-to destination
for traders seeking lucrative opportunities in the BTC futures market.

Bybit’s strategic global expansion includes
establishing its global headquarters in Dubai and acquiring pertinent licenses,
aligning with regulatory frameworks in the UAE, Kazakhstan, and Cyprus.
However, in response to evolving regulatory norms in Canada’s crypto sector,
Bybit opted to withdraw its operations from the Canadian market.


#Bybit #Report #Institutional #Preference #Bitcoin

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