Share this article
ErisX Releases API for Bulk Trading of Bitcoin, Ether
ErisX has released a block trading API for futures contracts and spot market trades to help large traders.
By Danny Nelson
Updated Sep 14, 2021, 8:45 a.m. Published May 26, 2020, 3:27 p.m.
Make us preferred on Google
Crypto derivatives platform ErisX said Tuesday it launched an application programming interface (API) for bitcoin, bitcoin cash, ether and litecoin block trading, allowing for bulk trades.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The API provides greater integration of the firm’s block trading facility, a service for spot and futures market crypto traders looking to strike private, high-volume deals. This applies to spot trades of at least 10 bitcoin, 100 bitcoin cash, 100 ether or 250 litecoin, and futures trades of at least 10 bitcoin contracts or 50 ether contracts, according to a Tuesday blog post.
Such orders might quickly rock those cryptos’ prices if the taker was to place them on the open market. This could trigger price volatility.
By negotiating a trade privately with other ErisX registered members, clearing and settling it through ErisX’s in-house service and then reporting it only at or soon after the fact, the parties avoid destabilizing their own trade.
“They eliminate counterparty settlement risk while limiting market impact,” Carlos Mosquera, Benatuil, CEO of Solidus OTC said in a press statement.
Parties report their trades at the trade date or within 15 minutes of execution, the blog post said.
See Also: ErisX Announces Launch of First US Ether Futures Contracts
ErisX said in a press statement that the REST API creates a “workflow that is familiar to capital markets professionals.”
“We are removing the friction and risks associated with OTC based workflows and expanding the universe of potential counterparties for our Members with a competitively priced service,” CEO Thomas Chippas said in the release.
The feature closely follows ErisX’s May 11 launch of ether futures contracts.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Gold's six-month rally versus bitcoin shows similarities to the 2019 cycle
The bitcoin-to-gold ratio rebounded from recent lows, mirroring a pattern seen in the 2019-2020.
What to know:
- Bitcoin is on track for a sixth consecutive red monthly candle against gold, a pattern last seen in 2019/20.
- The bitcoin-to-gold ratio has rebounded to around 16.3 after briefly falling to 15.5 as gold and silver declined more sharply than bitcoin over the past 24 hours.
- A potential bottom in the ratio would not necessarily signal bitcoin strength, but could instead reflect continued underperformance in gold relative to bitcoin
