Most of Wall Street remained neutral towards cryptocurrencies last year despite the market crash and the fact that many investors pulled out because of it.
NASDAQ is already favoring cryptocurrencies and is well acquainted by blockchain technology. The exchange has had a long relationship with blockchain startup, Chain. Now the company has unveiled their plans of collaborating with Cryptocurrency firm Gemini.
Moreover, over the counter(OTC) desk trading that is usually utilized for selling crypto tokens is seeing a change in trends. Cumberland and OTC firm acknowledged this and stated that OTC trading has shifted towards crypto buying with the start of new year. This shows that people are enthusiastic about cryptocurrencies’ future.
This trend is quite opposite to what was seen in late 2018 when almost everyone was rushing to sell their crypto tokens for various reasons including tax evasion as well as reaction to the crypto market crash.
Tabb Group’s director if Fintech claimed that OTC markets have greater trade volumes compared to many major exchange firms and that “the big deals go to OTC”.