Analysts have been predicting the entry of big money from institutional investors into the cryptocurrency market would be the catalyst for the next crypto bull run. It looks like these predictions may have been correct as the latest data from a crypto firm shows a surge of institutional interest during May this year; a surprising trend considering the market decline during the period.

If the trend continues, Circle, which is the startup backed by Wallstreet giant Goldman Sachs, is confident that there will soon be a boom in cryptocurrency demand from institutional clients.

This optimistic attitude is based on the fact that the company saw a massive surge of corporate clients joining its cryptocurrency trading platform Circle Trade last May. During the period, the Boston-based firm reported a 30 percent increase of new institutional clients as revealed by its founder and CEO Jeremy Allaire.

He said:

“In May, which was a challenging month, we saw a sharp increase of unique new counter-parties. A lot of folks on the institutional side are on-boarding, and getting their ducks in the row.”

This newfound interest from institutional investors is a surprising trend, especially when one considers the fact that Bitcoin, which is the world’s biggest cryptocurrency, plummeted in value in May. This shows that institutional investors may view the current market correction as an opportunity.

Circle had to make some adjustments to its trading platform to accommodate these recent additions to its clientele, with the new clients placing far more trades than their typical customers.

Circle Trade can now handle large volume high-frequency trades, and clients can even place orders without talking to a human via the updated platform.

Institutional Investors Betting on Crypto’s Long-term Potential was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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