Crypto Buy-Side Demand Rises 28% on IPO Expectations

[Benjamin]

Crypto Buy-Side Demand Rises 28% on IPO Expectations



Crypto companies have recorded high demand for their shares due to this year’s bull market and many companies talking about going public. This comes after crypto exchange reports that Kraken is considering going public in the coming months. This has led to increased institutional investment in crypto companies and a positive market impact.

Demand Jumps on the Crypto Buyer Side


Demand for crypto secondary assets, shares held by early investors and employees, has increased this year as positive sentiment prevails in the industry. According to Forge Global data, crypto buy-side demand is up 126% this year compared to the first half of 2023 and 28% compared to the second half of last year.


Shares of private crypto companies such as ripple, kraken and Chainalytics are on the rise. Andrew Saeta, Forge’s vice president of enterprise sales, said: corporate demand Because stocks are on the rise.

“There is very strong individual investor demand. On the corporate side, we have seen an increase. I would say the market is the most robust we’ve seen in a while… A lot of people are excited about the prospects going forward. “Especially because there will be changes from a regulatory perspective.”

To put this in perspective, Kraken’s stock prices are up 77% this year, while Chainalytics and Ripple are up 17% and 13% respectively. Despite this increased demand, cryptocurrency interest is below 2021 bull run highs.


Bitcoin Price and IPO Inspire Rise



This development is linked to the rising prices of Bitcoin and other assets this year. BTC reached an all-time high this year after its price reached $73,000 due to institutional inflows. Location confirmation Bitcoin ETFs and trading opened a new window into the market, encouraging entry by traditional investors. Similarly, altcoins and crypto stocks have seen a similar rise this year. IPO negotiations for kraken and other companies also attracted the attention of investors.

So read: Kraken vs SEC: Oral Arguments Begin, Here’s What You Need to Know





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David is a financial news writer with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has a talent for keeping up with breaking news. Staying on top of trends, David is knowledgeable about regulations, partnerships, crypto assets, stocks, NFTs, etc. He reported in various fields such as. Away from the financial markets, David cycles and rides horses.





The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.

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