$200 Million Crypto Trader: 'Big Players' Will Eventually Enter the Market

A crypto trader who reportedly earned over $200 million in profits from trading ether (ETH) recently predicted that “big players will [eventually] enter” the crypto market.

Expressing views similar to other crypto market participants, the digital asset investor said “the market [goes through] cycles” and that “it’s important to remember this during both rapid growth” and sharp declines in cryptocurrency prices. Choosing to remain anonymous, the crypto trader told CCN that he first learned about bitcoin (BTC) in late 2011. At that time, he believed cryptocurrencies had the potential to “change economic relationships throughout the world.”

In bitcoin’s early days, the crypto trader recalls that it was “difficult to buy [the cryptocurrency] with fiat money” and that he bought many different graphics cards in order to mine BTC. He also purchased some bitcoin at that time through ads he saw on Bitcointalk.

"Just A Matter Of Time" That Big Players Start Investing

Sharing his experience trading cryptoassets, the investor said that he learned to take advantage of the different crypto market cycles. He suggested that when prices are down it may be the right time “to stock up”, meaning it might be a good idea to buy more digital assets. Commenting on whether institutional investors and other big market makers will start making serious investments in crypto, the trader remarked: 

It’s also just a matter of time when the big players will enter this market … We have this time for now and we need to act.

The anonymous trader further noted that the “next bitcoin block reward halving will serve as an additional trigger for growth.” Although he does not expect the next surge in prices to be as “explosive” as the previous bull market run, the veteran trader believes there will “still [be substantial] growth.” According to his calculations, a more accurate way of predicting the next bull run would be “to count down the remaining days before halving [of the bitcoin mining rewards]" - instead of focusing on how many days the bear market has lasted.

Going on to reveal that he had made investments in EOS, TON (Telegram Open Network), and Ethereum, the trader said it was not always “about profits.” For him, it’s also about “supporting the movement.” However, he believes crypto-related “technology won’t fully replace the traditional” financial infrastructure but it will introduce “fundamental” changes.

Novogratz, Ledger CEO Explain Their Business Strategies

In a recent interview, Eric Larchevêque, the CEO of Ledger, a French tech firm that develops security solutions for crypto and blockchain-related applications, predicted that the crypto bear market could last another “12-24 more months.” Larchevêque also said that low cryptocurrency prices are affecting the industry as “the presence of mass media is much smaller.” Due partly to the lack of media attention, there’s “less traffic and fewer sales”, Larchevêque claims.

Meanwhile, Michael Novogrataz, a former Goldman Sachs partner and founder of Galaxy Digital, a crypto merchant bank, recently advised investors to “stay the course.” Although Novogratz does not expect digital asset prices to recover anytime soon, he’s confident that the market will rebound. The bitcoin bull revealed that there’s plenty of development work going on right now “under the hood.” He added that it always takes longer for institutions “to move”, but was certain that they would eventually make substantial investments in cryptocurrencies.

Staking-as-a-Service Startup Raises $2 Million, Set to Expand Its Team and Services

InfStones, a proof-of-stake (PoS) cloud solutions provider that claims to handle the world’s largest PoS stake, has recently announced it raised $2 million in seed funding, and the launch of its blockchain cloud service platform “Infinity Stones.”

According to a press release shared with CryptoGlobe, the firm’s goal is to bridge financial institutions and institutional investors with PoS chains, by “offering customers a simpler and safer service for the hosting of their mainnet projects and nodes.”

The funds raised from venture capital firms like DHVC and Plug & Play Ventures, known for investing in the early stages of PayPal and Dropbox, will help it achieve its goal. They’ll reportedly be used to expand InfStones’ team and services to additional proof-of-stake chains, beyond the 50 it already supports.

Jonathan Shi, a co-founder of InfStones, stated:

We’re witnessing an increase in interest in PoS coins, and InfStones has been at the forefront by being the first to provide reliable support on our cloud infrastructure, called Infinity Stones, designed for the blockchain to support the latest mainnet launches.

Currently, the staking-as-a-service startup supports some of the top PoS networks in the cryptocurrency space, including EOS, TRON, and Ontology. Shi noted that its clients see staking as a viable way to generate passive income, and as such have staked over $500 million worth of cryptocurrencies with the firm.

InfStone’s new Infinity Stones platform is reportedly being opened to institutional clients who are looking to launch a mainnet or node on a “secure and easy-to-use cloud storage platform.” The firm, launched in 2018, is also set to introduce a “one-click” solution to launch a PoS node on Infinity Stones, which is set to make deploying a node “as easy as launching a WordPress blog.”

Currently, the startup is a block producer in nine PoS blockchains. It aggregates token holders’ votes to participate in the production of blocks to receive mining rewards, and distributes these to holders after taking a commission.