2019 was a year of great partnerships. In June, Algoz announced its partnership with the Cardano Foundation for providing its liquidity and trading solutions to the ADA token. The industry saw this alliance as a step in the right direction in making ADA more attractive to institutional players. Two months down the road, OmiseGO, the P2P payment network, announced its engagement with Algoz, who would be assisting with its operation. Algoz ended 2019 with its partnership with two up and coming projects: the long-awaited SAGA project and eToro’s crypto trading platform, eToroX! These are just a selected group of partnerships we established in 2019.
NEW IDENTITY. SAME PHILOSOPHY.
At Algoz, we are constantly refining our technology to provide our clients with the best solutions for their pain points. In 2019, we decided that refinement should not be limited only to technology and took the opportunity to refresh our brand with a new logo, accompanied by a new website.
ALGOZ INTRODUCES TRADING STRATEGIES TO PORTFOLIO OF SOLUTIONS
In 2019, Algoz introduced ‘Algoz Trading Strategies’ to the market. Powered by Fingenom Group’s technology, Algoz has engineered its trading algorithms to work in the volatile and ever-changing crypto market. Algoz trading strategies are now offered to funds and asset managers looking to diversify and increase returns on their portfolio.
ALGOZ PARTNER'S WITH BITMAX-BACKED DIGITAL ASSET MANAGEMENT PLATFORM, ULTRALPHA
On October 23, 2019, UltrAlpha, an innovative digital asset management service platform, announced that Algoz will offer its Long/Short Alpha Links trading strategy to the users of UltrAlpha. Algoz’s unique Long/Short Alpha Links strategy, the first strategy to be offered by Algoz to an external fund, examines statistical differences and correlations between various crypto asset pairs - all focused on generating profits using our deep understanding of the crypto market. The year ended with a bang, with the strategy reaching a product cumulative return of 6% after only a month and a half of operating on the UltrAlpha platform.
POWER IN OUR PORTFOLIO
One of Algoz’s assets is its portfolio of over 20 trading platforms which its systems are integrated with, ranging from top-mid tier exchanges to new and emerging exchanges. Each exchange in our portfolio offers its own set of benefits and is fit for varying requirements by our clients. While acting as Official Market Makers to OKCoin, IronX, Liquid and eToroX, we also provide our liquidity solutions to other platforms, including Binance, OKEx, Huobi Global, Huobi Korea, Bittrex, Bitfinex, KuCoin, HitBTC, Bitstamp, Bithumb and more.
Once worth $24 billion. Circle Trade hassold its over-the-counter desk to Kraken. In a different business avenue, crypto-focused hedge funds have also taken a hit. Dedicated to introducing institutional investors to the world of crypto, 70 hedge funds have shut downin 2019. The cryptocurrency market is heavily and primarily driven by retail investors. However, 2019 kept institutional investors at bay, but hopefully 2020 will be different.
Done and Dusted. B2C2 reported that trading spreads havetightened by 90% since February of 2019, causing “once-mighty cryptocurrency trading operations,” to tumble and crumble under this pressure. Now that arbitrage opportunities are fading out, is it time for the more sophisticated traders to take the lead?
CBDC.No. Not an abbreviation for a cannabis strain. Yes. Central Bank Digital Currency. If you have been reading our previous newsletters (archived here), the conversation that has consistently persisted over the last year is, are we on the way to MASS ADOPTION? Which big player has taken an interest in crypto? What are the contributions of existing players towards the MASS ADOPTION of crypto? It seems that more than the crypto players, it is the big names and the behemoths (of their sector) who are or could be the real catalysts for mass adoption. Starting with an industry closest to crypto, financial service providers.
Bear VS Bull. The short-term price action of Bitcoin can lead one to believe that we are in a bear market. Fighting the assumption, Twitter user @100trillionUSD shared some interesting data regarding, “Bitcoin’s 200-week moving average (200WMA).” Despite Bitcoin’s erratic price movements, its, “current growth is 3% per month, or around $150.”
Regulatory Clarity. The ‘Disruptor of the Year’ award goes to Facebook’s Libra project. The reaction to this announcement was a mixed one. Where a lot of people saw potential and an avenue to implement mass adoption of cryptocurrency, lawmakers were shaken up and, truthfully speaking, threatened. Despite there being a perpetual conversation regarding regulation, 2019 was the year where the ‘necessity’ for regulatory oversight was recognized and steps were taken to put it into action. In order to combat the vagueness that is blockchain technology and cryptocurrency, the US govt. body has introduced a draft bill, ‘Crypto-Currency Act of 2020’ in order to, “bring regulatory clarity in the cryptocurrency sector.”
Can’t take a hint… It seems like the infamous Bitwise Asset Management team is far too deep to give up at this point. Despite, the SEC, basically, writing a 112 page rejection letter to its Bitcoin ETF, Bitwise is yet to give up. “Bitwise said that it is “committed” to provide all investors with the ability to access bitcoin in a regulated and familiar fund format,” (lack of familiarity is a major drawback of the crypto market/industry).