Perhaps sensing the rising popularity of Ethereum as an asset class, Hong Kong-based commodities and digital assets trading house Octagon Strategy announced it now offers trading of Ethereum digital assets on its OTC trading desk.
Octagon is no stranger to cryptocurrency trading.
Ryan Rabaglia, Head Trader at Octagon Strategy said “Whilst our largest traded asset remains bitcoin, we are observing buyers diversifying into other digital assets. Recent news coverage and high prices have driven interest in the wider digital assets sector. In the past year, total market cap for Ethereum has risen from US$875 Million to over US$4.5 Billion. Savvy buyers have been clamoring for access to the market and the challenge for interested parties has traditionally been the difficulty to enter. At Octagon Strategy we believe we have the solution to that.”
The launch of the new digital asset provides Octagon Strategy greater opportunities to pursue. With customers across more than 20 countries with the majority based in the US, Asia and in Europe, Octagon has recorded stellar growth since its inception, with a 1100% increase in trade volume.
“Ethereum is currently the most significant decentralized, open-source, blockchain ecosystem in development. Unlike Bitcoin, which still carries promise as a decentralized and secure value transfer protocol, especially if it can address its scaling issues, Ethereum is distributed computing platform onto which anyone can build decentralized applications or ‘dapps’ based on smart contracts code,” said Aurélien Menant (photo right), founder and CEO of Gatecoin, a regulated blockchain assets exchange based in Hong Kong.
Ether is the fuel of the ethereum blockchain as it is required to create, store and access dapps, and offers prospects as an asset class with properties resembling those of a commodity such as oil or gas.
Gatecoin was the first exchange in the world to list ether in August 2015.