Good News for Avalanche and These 6 Altcoins: Partnership Announced!

Liquidity platform Paradigm has partnered with cryptocurrency exchange FTX to launch spread trading. The new service will provide support for 7 altcoins, including Avalanche (AVAX). Investors of these altcoins will be given a chance to take advantage of price changes. Here are the details…

Partnership for Avalanche, SOL, APE from Paradigm and FTX

In a blog post on Friday, Paradigm announced the FTX partnership. Within the scope of this partnership, it is possible to benefit from changes in altcoin prices with spread transactions. Spreads involve buying a security and selling another related security, such as a futures contract, to produce an overall net trade with a positive value called the spread. This trade takes advantage of the volatility in market prices. It may require taking a long position in an asset while also selling the related derivative.

A Sell Signal Could Come: This Altcoin Approaches the Supply Wall!

The companies announced Friday that Paradigm users are spot on, perpetual on Bitcoin, Ethereum (ETH), Solana (SOL), Avalanche (AVAX), ApeCoin (APE), Dogecoin (DOGE), Chainlink (LINK), and Litecoin (LTC) via FTX. and futures instruments will be able to receive the difference. According to Paradigm CEO Anand Gomes, the regulation was aimed at attracting new crypto investors interested in cash and carry transactions. Gomes added that this could lead to new product offerings “further down”.

Managers’ comments

FTX is the third exchange to partner with Paradigm in futures. But it’s important here not to confuse Paradigm with the crypto investment firm of the same name. AmkNews.com As we have also reported, it has been integrated with Paradigm, Bybit and Deribit before. In February it began offering cleared futures spreads through these exchanges. “Having more exchanges means that Paradigm users have alternative places to clear and store assets, as well as benefit from pricing shifts,” said Micki Koonin, Paradigm co-founder. According to Paradigm CEO Anand Gomes, the regulation has attracted new crypto investors interested in cash. He traded on FTX leveraging crypto spot purchases and futures instruments.

Koonin noted that FTX is the first exchange where Paradigm can offer spot trading as part of the spread. The exchange also allows trading futures spreads on more coins like APE and DOGE. The company said the spread trade on Paradigm guarantees that both legs are executed atomically. Spreads executed in Paradigm and cleared in FTX are charged half the fees compared to executing two separate transactions. Paradigm has more than 1,000 institutional clients that trade approximately $10 billion per month, including hedge funds, over-the-counter trading, loans, structured product issuers, market makers and family offices.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.