Today marks the one-year anniversary of Gemini Block Trading™, a fully electronic block trading facility. Block trading enables our customers to buy and sell large quantities of digital assets outside of Gemini’s continuous order books, creating an additional on-exchange mechanism to source liquidity when trading in greater size.

Gemini customers have executed over $100mm (notional) of orders via Gemini Block Trading™, since its launch. This has not only been a great trading mechanism for institutional customers, but also for our individual customers who make up more than 85 percent of all block trading customers.

This is a great milestone as we **_build the future of money_**. We look forward to the many milestones to come in the years ahead!

Onward and Upward,

Team Gemini

Gemini Block Trading: One-Year Lookback

The secure way to buy, sell, store and convert crypto. Millions use Gemini to diversify their portfolios.

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Weekly Market Update

031524

Crypto Continues to Waver Amid Broad Selloff, While Centralized Exchanges See Uptick In Trading Volumes

In Gemini’s latest analyst note, [“The Fed & Crypto: Lessons From Previous Easing Cycles,”](https://www.gemini.com/institutions/insights) we look at the relationship between the Federal Reserve’s interest rate policy and cryptocurrency prices.

The report, produced in conjunction with research firm Praxis Veritas, had a few key takeaways: 

- __Markets respond positively to mid-cycle rate cuts:__ Historically, markets have reacted well to mid-cycle rate cuts, less so when they cut during a recession or external event that forces their hand. The expected rate cut in September is an example of the former, which bodes well for a spectrum of risk assets including crypto. 

- __Current economic data is not pointing to a recession:__ Despite the recent slowdown in hiring and other concerning  economic indicators, the likelihood of a recession remains low when combining available information about the state of economic growth drivers. Financial conditions should remain accommodative or ease further if previous experience holds. 

- __There’s a long-term inverse relationship between financial conditions and crypto prices__: When there was significant easing in financial conditions in 2016-17 and 2020-21, the price of bitcoin appreciated significantly (as well as in 2019 and late 2023). On the other hand, episodes of significant tightening in the FCI occurred around the bear markets of 2018 and 2022. The upcoming easing in financial markets should be a greenshoot for crypto. 

- __Easing financial conditions could hurt bitcoin’s dominance:__ Over the past six or seven years, bitcoin has shown to be less dominant when federal monetary policy eases, while alt coins make up a larger share of the market. Historically, it has taken about nine months for the changing fiscal policy to impact the crypto market. 

Onward and Upward,<br> 
Team Gemini

*This material is for informational purposes only and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of Gemini. Gemini, its affiliates and its employees do not make any representation or warranty, expressed or implied, as to accuracy or completeness of the information or any other information transmitted or made available. Buying, selling, and trading cryptocurrency involves risks, including the risk of losing all of the invested amount. Recipients should consult their advisors before making any investment decision. Any use, review, retransmission, distribution, or reproduction of these materials, in whole or in part, is strictly prohibited in any form without the express written approval of Gemini.

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View the full report for a comprehensive analysis of factors driving long-term crypto growth.

INDUSTRY

Gemini Block Trading: One-Year Lookback

ARTICLES CONNEXES

Crypto Continues to Waver Amid Broad Selloff, While Centralized Exchanges See Uptick In Trading Volumes

The Fed & Crypto: Lessons From Previous Easing Cycles

Harris Campaign Weighs In On Crypto, Bitcoin Volatility Remains High, and Wall Street Giants Load Up on Spot BTC ETFs

Crypto Continues to Waver Amid Broad Selloff, While Centralized Exchanges See Uptick In Trading Volumes

The Fed & Crypto: Lessons From Previous Easing Cycles

Harris Campaign Weighs In On Crypto, Bitcoin Volatility Remains High, and Wall Street Giants Load Up on Spot BTC ETFs

Un moyen simple et sécurisé d'acheter et de vendre des cryptomonnaies