The cryptocurrency exchange industry is getting more and more competitive as players compete to attract the market participants with new development announcements every other day. These developments are centered on improving the technical structure, increasing liquidity and participation on the exchanges. However, rarely do these exchanges make acquisitions as big as their blockchain projects counterparts, which makes the latest Bittrex possession an interesting piece.
Bittrex Acquires Tradedash, A Sophisticated Trading Tool
Bittrex exchange is aiming to bolster its real-time technology with the acquisition of Tradedash. The project provides a trading tool kit for professionals and personal customers with
“a secure, customizable trading experience”.
Bittrex CEO Bill Shihara was buzzing on the partnership with Tradedash saying the addition of the trading tool came as a “no brainer” for his team. He expects the tool to provide a gateway for improved technology and user experience. Bill further complements the addition of Linus Petrén to the team saying,
“Beyond the technology, adding Linus to our team strengthens our organization tremendously. This deal makes us better now and creates opportunities to make additional upgrades to the user experience in the future. That is a really exciting combination for Bittrex as we continue to push for increased blockchain adoption around the world.”
During its launch, Tradedash highlighted a number of features including indicator-based filtering of markets across exchanges, easy scaling in and out of positions, trade recommendation bots powered by and support for Binance and Bittrex exchanges.
Bill Shihara on the partnership with Tradedash (Image: Medium)
Linus, co-founder of Tradedash offered his opinions on the acquisition saying,
“Bittrex was our first choice as a trading platform to integrate with when we started Tradedash. Joining the Bittrex family was a natural progression of our business, and I’m excited to continue to deliver high-quality products on a much larger scale.”
The trading tool allows users to customize their market preferences and select the trading platform they choose to view. Furthermore, Tradedash merges the existing (proven) techniques in the traditional market and broadcasts it to the digital asset market.
The Tradedash trading tool is founded in 2017 by Linus Petrén and Wesam Mikhai. The company has since grown as an essential tool for professional and high volume digital asset traders. Since the launch, the tool has carried out over $7 Billion USD worth of cryptocurrency trades showing great potential for Bittrex in future.