These are my thoughts. There is tons of fake volume. The amount of real volume is small but significant and if Nash can capture even a small amount of it then we might still see reasonably good volume. There are over 200 exchanges but only about 5 have to sort of volume that I think the Nash team and the community would consider to be "high". Another 6 have enough volume to be considered good enough/worthwhile. They are Binance, Bitfinex, Coinbase, Bitflyer, Kraken, Huobi, Bittrex, OKEx, HitBTC, Upbit, Poloniex. The remaining exchange volume is 99% fake fake fake. But with only 11 exchanges capturing 95% of the real volume, the Nash product will need to be something special to break into this group.
If you look at all of these 11, each has a competitive advantage that Nash will struggle to compete with at the start and it will take some time for it to catch up (6-12 months). For example, Binance is trusted, fast and has a large number of trading pairs. Coinbase is extremely well known, simple to use and trusted. Kraken has been around for ages, is reasonably trusted and has loyal (but not always happy) users. Bitfinex has many advanced trading features. While Nash has some enormous competitive advantages that no other exchange can match, it will take time to catch up in the areas that make the leaders, the leaders.
For those hoping for rapid growth, it’s important to remember that Binance became the market leader within a few months, but that was when everybody was jumping into crypto. Few are now joining the bandwagon for the first time and those that are left are either sitting on extracted stablcoins and unlikely to trade (waiting for the storm to pass), or completely rekt and also unlikely to trade. There are even fewer traders around due to the sheer lack of tradability/volatility at the moment.
Let’s not forget that some exchanges are actually closing in this market – we need to have realistic expectations. The good news is, I think Nash will co-incidentally launch right around the time this obscene downturn comes to an end. It will be a slow road to recovery and this will give Nash time to get the absolutely critical BTC trading pairs incorporated and start adding more and more small cap coins. Once this is done I believe new users will funnel into Nash and existing exchange users might change over as well. I expect, if things progress well, 1-5 million USD per day within a month. Gemini/Bittrex level volume within 6 months. Kraken level in 6+ months and 100 million USD per day by 12 months. With enough trading pairs and advanced trading features Nash might eventually overtake Bitfinex and Binance, which could occur rapidly when the next market growth spurt happens in a year+.
Well, I guess there will be a tough start and monthly volume will be somewhere between 50 to 100 million.
Other then most of the people I do not believe Nash will have it’s breakthrough with Bitcoin pairs. Well, this will help generate volume, but this is general stuff every exchange have. The real USP will come up with the ongoing adoption in the cryptospace.
In my eyes Nash will be the go to exchange (which most of the users won’t even realize) when you want to spend your tokens. Lets take for example Moonlight. How many really have “LX” token in their own wallet? Nearly nobody, but most of you will have Ether. When you want to use the product of moonlight you have to use “LX” tokens. This is the moment when Nash joins the game. When you use the product from Moonlight you can pay with Ether and Nash will automatically create a conversation from ETH to LX on the actual market price in the background.
This mechanism can be used on several dapps and will create an immense amount of volume. From my perspective Nash should not focus on trading pairs that already have a massive amount of liquidity, Nash should focus on trading pairs that need this kind of mechanism to create a massive amount of liquidity.
Looking forward to the launch of Nash! Looking forward to 2020, when the monthly volume will be massive. When everybody is looking at Nash and thinking WoW. That is the WoW effect!
i always wondered where binance gets so much liquidity… i wanted to buy/withdraw some neos yesterday to buy nex, but neo was in suspended mode in binance yesterday, went an checked couple of other exchanges (kucoin, bitmax), the volume is in thousands compared to few millions in binance. I finally had to wait for binance , it did not make sense to get neo from other exchanges.
If Nash exchange is easy to use, fast and similiar/better (deliver promises) than existing it will have tons of volume. Well look at what happened to almoust every exchange out there, hacks, unable to withdrawl for days… and binance recent P/D 's are awefull… Crypto cries for something real/legit…
With all these CEX closing down and getting hacked, people are looking for a Secure and Legitimate Exchange to do their Trading. Nash will have timed their Launch perfectly if it launches in the next couple of months. The Volume will be enormous once people learn about Nash.
JP Morgan says that for now, the only crypto startup they’d be willing to invest in is Bakkt. I hope they realize that Nash is safe, super efficient and meets the highest regulatory standards.
Looking forward to nash launching
Bakkt is not a start up. Its parent company is the Intercontinental Exchange. They own the New York Stock Exchange and a bunch of others around the world. They are the Apple of phones. If institutions will get into bitcoin/crypto etc it will be via Bakkt and only Bakkt, at least for now and for a long time to come.
Dude, you are funny. You mean, if a serial entrepreneur starts a new business it is wrong to call it a startup?
And why do you speak with such certainty about what institutional investors will do? You don’t know. No one knows.
I am hoping that pretty soon, they’ll find Nash a perfect fit for business.
Cheers
Bakkt was formed with the purpose of catering to institutions. They are not a start up, not entrepreneur-ing, just extending exisitng capabilities based on their core compentatcies (operating excahnges).
Bakkt is a subsidiary of the Intercontinental Exchange. And they didn’t just decide to cobble an exchange together and throw the door open to institutions and hope for the best.
They had the all the big clients in their back pocket before even announcing the exisitance of the company. Also worked hand in hand with the regulators from the start. The CEO of Bakkt is married to the CEO of ICE and have been setting up and operating the biggest exchanges in the world for many years. These are the guys that know all the CEOs on Wall Street by name and deal with on a day to day basis - have established and trusted relationships with.
JP Morgan came out just in the last day and said if they seek exposure to crypto assets it will be via Bakkt. These big wigs all roll together and it’s a closed game. This is just my opinion obviously but if you read about who is running Bakkt and their expertise and current clients, Bakkt are basically the guys the institutions have been waiting for to get the show on the road.
For sure institutions might be attracted to Nash. I hope their are. But Bakkt have a head start is all I’m saying
As of my understanding, the fees which should be going towards dividends when staking DO NOT include fees collected from FIAT to CRYPTO trading, but only for CRYPTO to CRYPTO. Can someone confirm if this is the case?
When the exchange launches, all fiat will be handled by the third party providers, so none of those fees will be collected by Nash. In future when Nash has the necessary licenses to hold our fiat and offer fiat pairs, then fees will be collected and go towards dividends.
