Cryptocurrency has seen a jump up in the conventional initializing last fall before the course of action was conducted because of COVID-19, according to FPG aka Floating Point Group which is a startup technology-based on algorithmic trading originating in MIT.
After confirming an increase in the presence of mainstream crypto trading, Floating Point Group’s co-founder Kevin March said to the popular crypto news source Cointelegraph, “An increasing portion of our inbound prospects are established industry participants coming from Equities, FX and derivatives markets”.
Complying with the regulations of the U.S., FPG provides corporate players a plethora of APIs, Tools, and other different technology for trade automation. He also stated,
“The cryptocurrency markets offer a novel and attractive line of business ripe with opportunities for asset managers and a flashy way to bring in additional clients for service providers.”
Recently, Paul Tudor Jones, the billionaire hedge fund founder with various other market players showed interest in the industry in recent weeks.
Also last week, Naval Ravikant, founder of AngelList invested $2 million including other investors as well in FPG.
Even though cryptocurrencies have seen ascending prices and heed since the COVID-19 procedures, Floating Point Group observed that crypto interest started its ascend in Q4 of 2019. Kevin said, “The Covid-19 pandemic seems to have had little effect on this trend.” he also added by saying,
“In fact, the inactivity associated with working from home may give many of the relevant decision-makers a propensity to think outside the box and consider new strategic initiatives like venturing into cryptocurrencies.”