Gemini Hits daily volume of 1000btc

[defaced]

I think one of the important things to also remember is the fact that this volume is most probably 100% legit and not pumped up like on some other exchanges where they inflate the volume by selling/buying to themselves.

Still very early days for Gemini, they can still easily become one of the major players in this ecosystem in so far as exchanges are concerned. Will be keeping an eye on them in future.

What gives you that assumption?

[Erkallys]

That's really nice ! I hope that it will have a postive effect on the Bitcoin price !

[Bitcoininspace]

Take 10 btc and trade them back and forth a hundred times a day.

Or is it 100btc 10 tmes a day?

What's the difference? Literally nothing since all trades are a % fee.

[ajareselde]

Take 10 btc and trade them back and forth a hundred times a day.

Or is it 100btc 10 tmes a day?

Trades being made on their site are often of a volume larger than few btc per trade, but there's not many of them, and by the looks of it,
it doesnt look manipulated if we compare buy and sell orders made.
The only thing that bugs me is that the last trade shows to be 3 hours ago 

[RustyNomad]

I think one of the important things to also remember is the fact that this volume is most probably 100% legit and not pumped up like on some other exchanges where they inflate the volume by selling/buying to themselves.

Still very early days for Gemini, they can still easily become one of the major players in this ecosystem in so far as exchanges are concerned. Will be keeping an eye on them in future.

What gives you that assumption?

The fact that they are regulated to some extend so somebody will be checking the books so to speak. Not saying it cannot or will not happen just that it is less likely to happen than on some of the non-regulated exchanges.

[Dissonance]

I know alot of people think that this is no different then any other exchange but they have to realize that insitutional investors can't just open up an OKCoin account and start trading .  Finance firms have compliance, legal and risk management departments that they need to contend with. I'm sure there are wall street traders that would like to get into bitcoin but can't unless they get approval internal from risk and legal.  Having a wallstreet based firm run by well know people will go along way in getting approval.

[tss]

Wow that volume sprung up nicely, been watching it the past few days mostly very low volume.  Looks like some bigger player has signed up at that exchange.

Probably a big investment company who is going to start using the blockchain for something.

That was a first thing that has crossed my mind. Hopefully nearly all of these 1,000 BTCs are institutional money getting into Bitcoin ecosystem. I think that we have grown enough to earn anybody's trust and big companies and institutions are what we need to get this party really going!

$200,000 is too small to be anything institutional.  it is nice to finally see any volume on gemini.  the starter customers they attract will grow and spread to the big players sooner than okcoin or bitstamp.

[Dissonance]

Just hit 1500 50% increase in 2 days.

[OrientA]

The volume is over 2300 now. Gemini is doing very well. The recent price rise might be related to the open of Gemini. Wall Street client will tend to use Gemini more than other exchanges.

[Raimonn]

The volume is over 2300 now. Gemini is doing very well. The recent price rise might be related to the open of Gemini. Wall Street client will tend to use Gemini more than other exchanges.

Its growing its volume very fast, it can be one of the clues behind the climbing price on bitcoin, new investors not people that one to have only one bitcoin. Investors that buy almost 100 bitcoins to invest.

[crazyivan]

The volume is over 2300 now. Gemini is doing very well. The recent price rise might be related to the open of Gemini. Wall Street client will tend to use Gemini more than other exchanges.

This.

Wall Street is the key. This is why having a fully compliant exchange is EXTREMELY important. Let us see how high can it go.

[hdbuck]

The volume is over 2300 now. Gemini is doing very well. The recent price rise might be related to the open of Gemini. Wall Street client will tend to use Gemini more than other exchanges.

This.

Wall Street is the key. This is why having a fully compliant exchange is EXTREMELY important. Let us see how high can it go.

statist wallstreetist

[gentlemand]

Their trading volume is raise quickly, but still nothing compared to other major exchange.
Their trading volume isn't much different than local exchange in my country for now

Gemini is still in it's early days, maybe they can become major exchange like bitstamp or bigger.
Too bad it's only for US country

Considering it isn't in all US states yet I guess it still qualifies as a local exchange. I thought they were going for the Itbit model which bypassed state level stuff and was instantly available everywhere. It seems like a strange oversight on their part.

[hdbuck]

meanwhile, chineese exchange got 3,5+ million btc in weekly volume

[OrientA]

Their trading volume is raise quickly, but still nothing compared to other major exchange.
Their trading volume isn't much different than local exchange in my country for now

Gemini is still in it's early days, maybe they can become major exchange like bitstamp or bigger.
Too bad it's only for US country

I think the trading volume in Gemini will rise in the future. As Gemini is regulated, more people will trade there due to the protection.

[WhatTheGox]

Seems to have dropped of volume again now but the same goes for other exchanges around it. If the bitcoin does rally again it will go back up.

[OrientA]

Take 10 btc and trade them back and forth a hundred times a day.

Or is it 100btc 10 tmes a day?

The total volume is 1000 bitcoin in the above case. But you have to pay fee in each trade. It is not worth it to trade frequently in fee paying exchange.

[Amph]

meanwhile, chineese exchange got 3,5+ million btc in weekly volume

By repeat sell & buy activity with 0% trading fee
Maybe you can buy a lot of bitcoin there without rise bitcoin price there

still impressive, if you compare it to a mere 2k per day

3.5M is 20k per hour, even if you remove the fake portion of the volume, there is no comparison

[hdbuck]

Take 10 btc and trade them back and forth a hundred times a day.

Or is it 100btc 10 tmes a day?

The total volume is 1000 bitcoin in the above case. But you have to pay fee in each trade. It is not worth it to trade frequently in fee paying exchange.

you dont pay fees if you *own* the website, or you get them back at least.

[rammy2k2]

still, 1000 BTC its a very nice daily voulme, nice work!