Will crypto-friendly trading platform eToro launch an IPO in 2021?

eToro would join Coinbase in the shortlist of companies planning a listing on regulated markets in 2021

Trading platform eToro could go public in 2021. Sources have told Cointelegraph that the company is working with the London Stock Exchange’s „Elite“ program to prepare for an IPO. Cointelegraph contacted a company representative to get more information, who simply replied, „eToro does not comment on market rumours.“

However, eToro employees shared on LinkedIn an article from the Israeli news agency Calcalist announcing the IPO, apparently with the approval of CEO Yoni Assia.

The Calcalist article states:

„The company is targeting an IPO in the second quarter of 2021, after doubling its revenue to $500 million and gaining five million new customers in 2020. […] The company is currently in talks with investment bank Goldman Sachs regarding leading the IPO.“

Coinbase recently filed preliminary documents with the US Securities and Exchange Commission to launch an IPO, scheduled for 2021.

Several mainstream financial companies, such as MicroStrategy, have started a trend of institutional investment in Bitcoin. Coinbase’s decision to list on regulated markets, as eToro seems to want to do, could spur further growth in cryptocurrency adoption. Voyager, a brokerage platform for digital assets, has decided to enter the Canadian market in February 2019.

BTC Whales Profit In Bitcoin August-November Rally: OKEx Report

OKEx research shows sellers are trading larger as the price of BTC has risen.

Retail customers bought as the price rose.

Professionals bought during the American Thanksgiving holiday

Research from OKEx analyzed BTC / USDT trading patterns from August to November 2020 and found that retail traders were losing to whales.

In its research , the Bitcoin Up review team filtered trades by trade size and direction to see how various types of market players performed during the bull run from August to November 2020 .

Get directions

According to the researchers, sorting by business size is straightforward. However, the commercial orientation is difficult and the researchers have carefully explained their methodology.

The authors look at trades from a payee’s perspective using a Kaiko algorithm . That is, they look at the type of order placed and whether the buy or sell orders have been executed for each order size.

Classification by Bitcoin trader category

Bitcoin traders have been classified into four categories based on the size of the trade:

The OKEx team explains that these groupings correspond to market personalities and are generally referred to as retail traders, professionals, large traders or whales and institutions. The behavior of each type of trader falls roughly into these categories and volumes.

So, what happened?

According to OKEx, small retail traders were on a buying spree as BTC continued to advance at around $ 15,000. Retailers joined the mix after that.

Transactions under two BTCs remained largely purchased until the end of November. However, trades above two BTCs were more often than not sales, according to the data. The following charts give a good idea of ​​the trend:

Net percentage difference between purchases and sales based on the volume weighted average