Crypto lender Genesis Capital released its Digital Asset Lending Snapshot today, revealing that it originated $425 million in loans in the first quarter and is currently lending more than 30,000 bitcoins. The lender, a spinoff of the Genesis Global Trading crypto platform, caters to institutional borrowers and says it has processed more than $1.5 billion in loans since its launch in March 2018.
He suggests that this trend is partly because altcoin prices tend to track the price of bitcoin and experience more dramatic swings. “They’re a bit more illiquid, less frequently traded than bitcoin,” he says. And during a bitcoin price run, “you’ll see the magnitude of [their] moves be a little bit bigger.” Once a bitcoin run is over, altcoin traders tend to sell their short positions again.
The report suggests that this discrepancy may be due to “better information or better understanding of momentum in the asset.”
NO, MORE DIRTY CAPITALISM, WHY WON'T YOU PEOPLE JUST EXECPT A BETTER SOLUTION!?!?!?
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