Social trading platform, eToro’s cryptocurrency wing, eToroX announced the launch of a new platform, AlgoX Prime specially made for crypto algo traders and institutional grade investors. EToroX launched the new AlgoX Prime platform during the just concluded Consensus Asia conference.
AlgoX is ready: Trading platform is built specifically for institutional grade traders. (Source: eToroX)
The platform offers its users access to the deep liquidity pool of eToro, a wide selection of cryptocurrency assets to trade, professional networks and a platform curated specifically for big-time traders.
The report states that the AlgoX Prime platform will provide a gateway for institutional investors to start their journey in crypto trading. Built for corporations and institutional grade investors, the platform provides deep liquidity and advanced capabilities to its users.
Doron Rosenblum, eToroX Managing Director, said,
“We believe that it will open the door for institutional traditional financial algo trading companies to trade cryptoassets, and by doing so, greatly increase market liquidity.”
As the market endured the cryptocurrency winter in 2018, retail traders exited the market in large volumes. As prices of digital assets went lower and lower, institutions have started buying in to the market and eToroX latest platform is set to offer them a platform to trade.
Jasper Lee, Managing Director of eToro Asia is excited with the launch of the AlgoX Prime platform labelling the event held in South East Asia “highly significant”. Lee further said,
“The market in this region is highly dynamic. People are very involved with crypto, and we believe that developments such as our new API program will greatly help facilitate mass adoption.”
EToroX Deep In The Crypto Space
The eToroX team is the wing in the social trading platform that deals with virtual assets trading and investing. The team is heavily involved in the cryptocurrency space not only as a trading platform but in research too. On Sept 10. The team released a report showing the increase in millennials choosing cryptocurrencies as a safe haven asset. Over 40% of people in this age group choose Bitcoin as their preferred investment asset in times of recession.