Genesis Capital cryptocurrency loans are increasing
Genesis Capital cryptocurrency loans are increasing

Genesis Capital cryptocurrency loans are increasing

By Fabio Lugano - 19 Oct 2018

Chevron down

In March, Genesis Capital, a US OTC trading company, began to offer cryptocurrency loans to professional traders. Today they reveal very interesting turnover numbers in their results for the third quarter of 2018.

Since the opening of the desk, Genesis has granted $550 million in loans, of which more than $130 million are still active, all from over 60 counterparties:

Genesis capital Cryptocurrency loans

The figure shows significant growth compared to the previous year and all this despite the decline in the value of cryptocurrencies.

Professional counterparties are mainly hedge funds, trading companies or companies that use cryptocurrencies as part of their capital.

Worthy of note is also the evolution of assets, which represents the demand for cryptocurrencies by customers, as can be seen in the following illustration:

Genesis capital cryptocurrency loans

If in March the loans were essentially in BTC and ETH, with time, Ethereum’s numbers declined, both for the drop in the value of this cryptocurrency, more than 80% from the initial values, and for the granting of loans in other assets such as BCH and LTC.

As far as operators are concerned, there has been a progressive increase in the number of traders and users with capital and a decrease in the weight of hedge funds, a sign of progressive maturity.

Genesis capital Cryptocurrency loans

In short: new operators and new opportunities, with the birth of a new financial sector, the cryptocurrency one.

Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.