Trading volumes are far lower now than they have been — except on GDAX, where they’re noticeably higher all of a sudden. So what’s that about?
There’s a concept called ‘dumb money’ in trading. It’s not a complimentary term, but it’s pretty accurate. It means the money and the traders that pile in unthinkingly, based on emotion, making hasty and usually bad decisions. The ones who bought bitcoin at $19,000? Dumb money.
Then there’s ‘smart money’. These are the traders who, whilst perhaps not being more intelligent than everyone else, have more experience. They’ve been round the block a few times, seen a couple of market cycles. The ones who sold at $19,000, or who recognised the market was turning around there and decided to wait a while longer before buying? The ones who had the patience to wait for that $6,000 crash? Smart money.
Now here’s the weird thing. Popular exchanges like Bitstamp and Bitfinex saw huge volumes on 6 February, when the price fell to $6,000. That was a great reversal signal: ‘capitulation’, as it’s known. Those volumes haven’t been seen since.
Except on GDAX, which is suddenly displaying far greater volumes than it did back on that day. When other exchanges posted an all-time high for volumes, GDAX was just getting started. Volumes now are much, much higher. What’s going on?
This is necessarily speculative, but it seems highly likely that those volumes are smart money, and very likely institutional American money. Think about it. If you’re looking to pick up a lot of BTC, you’re absolutely not going to do it on a shady exchange like Bitfinex — which doesn’t have real fiat trading anyway. And Bitstamp, whilst respectable, is based in Europe and doesn’t have such good liquidity and orderbook depth.
GDAX is the way to go if you’re looking for a compliant, liquid exchange, based in the US and ticking all the boxes required for institutional investors and high net-worth individuals. Odds on that has a lot to do with the up-tick in volumes — and for the rest of the crypto world, which is still wondering which way the markets are heading, it might give cause for some degree of cautious optimism.
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Since TrueUSD (TUSD) launched on Bittrex earlier this month, we have seen healthy demand in the market with an average . TrueUSD debuted with a bitcoin (BTC) trading pair, followed by an Ethereum (ETH) trading pair. Today, we are pleased to announce that TUSD is directly tradeable with Tether on Bittrex. This pairing facilitates faster and cheaper transactions out of Tether and into TrueUSD, the world’s only legally-backed stable cryptocurrency.
We continue to be thankful to the entire team at Bittrex for partnering with TrustToken to give traders a variety of credible cryptocurrencies. The pairing of Tether to TrueUSD makes it both affordable and fast for traders to move funds into TUSD, the world’s only stable cryptocurrency that is fully collateralized and redeemable for US Dollars. Now, instead of moving funds from USDT (Tether) to BTC (bitcoin) or ETH (Ethereum) and then TUSD (TrueUSD), USDT can be quickly and efficiently converted directly to TUSD.
The increased convenience does not expose traders to potential risk from Tether. Our legal framework enables token holders to exchange USD directly with an escrow account — TrustToken never touches the funds. Instead, traders get access to one of the escrow accounts in our network of fiduciary and banking partners to purchase or redeem TrueUSD. This reduces the in other collateralized stablecoin projects.
Additionally, TrueUSD is always fully collateralized by US Dollars, held in a professional fiduciary partner’s escrow account. TrustToken’s publicly verified mint TrueUSD when USD clears the escrow accounts and burns TrueUSD when USD is redeemed to ensure a 1:1 parity between the TrueUSD in circulation and the USD held as collateral.
→ Trade the USDT/TUSD currency pair on Bittrex.
→ Learn more about TrueUSD: Read our of the TrueUSD bank account, , and the .
What is TUSD?
TrueUSD is a price-stable cryptocurrency backed by US Dollars. Each 1 TUSD is redeemable for $1.00 USD.
If you hold TrueUSD tokens, pass a KYC/AML check, and comply with our terms of use, you have a legally enforceable right to redeem those tokens for the money in the TrueUSD escrow accounts. Anyone with a Bittrex account can trade TrueUSD.
TrueUSD is made possible by tokenizing US Dollars through TrustToken’s legal and technical platform. TrustToken is a platform to tokenize real-world currencies (such as USD and Yen) and assets (such as real estate, art, and IP).
Guidance for Traders
See . Anyone with a Bittrex account can use the exchange to trade TrueUSD for Tether.
Right now, there are only USDT/TUSD, ETH/TUSD and BTC/TUSD trading pairs. We’re working to develop more trading pairs.
See more
See more technical and legal details on the .
Team
TrustToken was founded by a team from Stanford, UC Berkeley, Palantir, and Google, and is backed by BlockTower Capital, Stanford-StartX, Founders Fund Angel, FJ Labs, and Stanford-StartX. The company has developed a legal framework for collateralized cryptocurrencies in collaboration with Cooley, WilmerHale, and Arnold & Porter, and has a growing network of fiduciary, compliance, and banking partners. Learn more about TrustToken and its TrueUSD product at
TrueUSD is the first major tokenization project built on the TrustToken platform. If you’re excited about TrueUSD and believe that you or someone you know could make outsized contributions to the in our growing company, reach out about joining our team.
Contact
General: hello@trusttoken.com
Media: media@trusttoken.com
Legal inquiries: legal@trusttoken.com
Advisors, exchanges, traders: partner@trusttoken.com
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Tell us how you discovered Photochain or how it discovered you and what made you want to join the team?
Working in the blockchain industry since a few years ago I keep an eye on new blockchain solutions, and I take an interest in those I think are perfect use cases. As a dApp (a decentralized application), I have found Photochain a fantastic idea and I got excited when I saw the team even worked on creating a proof-of-concept (demo) open to the public. I had to share my thoughts with the team and offer my support, and so I did. After watching them for a brief period of time I have then decided to support the project. And here I am!
Where did you think you could help with your skills and your experience from Blockchain Zoo and other projects?
Blockchain applications, and decentralized applications in general, require a different architecture compared to centralized applications. Several years of my personal experience in deploying decentralized applications, and with the team at Blockchain Zoo, can offer help in implementing Photochain to be a successful dApp.
How do see Photochain amongst the big stock photography players and how will it cope in the market?
No. I don’t it see among them, I see Photochain ABOVE them in a very short time. It will get there by word of mouth, organically. Photochain is solving a very important problem in the photography industry by providing a decentralized solution that pays the photographers real money for the value of their photos, and offers cheaper access to content to the buyers, while guaranteeing usage rights cryptographically. It is inevitable that the industry will quickly adopt Photochain as one of their core tools.
What makes Photochain so different?
It is a decentralized semi autonomous application. By removing centralized management costs, the service can be offered at very competitive fees to both photographers and their clients, whilst processing the payment instantly. Being a blockchain application, Photochain offers cryptographic security in the management of rights and usage of the photos. Their smart and simple use of blockchain to serve photography sellers and buyers is what makes them so different.
Where do you see Photochain in a crypto future?
Along many other dApps people use daily from their mobile phones and in their computers. Using an operating system such as ElastOS, made for dApps. Photochain will fit the niche for those that need to buy high quality original photos. DApps like Photochain will be as simple and as common as the computer programmes and applications we use today.
Tell us a story about particular photo
It is the picture of some source code in the monitor of an old Apple Plus, in the late 80s. That piece of software has been one of the first successful application I coded! I didn’t know at the time but this was the launch of a very successful career. And with so many other achievements since, this was still one of my proudest moments.
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