Well-known U.S proprietary trading firms and venture capital companies are now in the buzz of buying cryptos amid the bullish trend playing out at the world’s fast-changing financial market.

Data retrieved from Messari researcher, Mason Nystrom, showed a top U.S proprietary trading firm, Jump Trading – with expertise in algorithmic and high-frequency trades and 700 employees globally, accumulating six DeFi cryptos quietly.

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What you should know

  • Jump Trading holds at least $75 million in digital assets and is the 8th largest holder of COMP (Compound) tokens behind a16z and Polychain. Jump bought 47K COMP in the past 7 days.
  • Jump also holds KEEP (Keep Network), HXRO, NMR (Numeraire), OXT (Orchid), and MKR (Maker). Jump invested an undisclosed amount in Serum and owns 40m SRM (~$32m).
  • Andreessen Horowitz, a popular American venture capital firm, owns amounts of the flagship crypto Bitcoin, Ethereum, Filecoin (FIL), Maker, Compound, Celo (CELO), Orchid, Arweave (AR), Keep Network, and Handshake (HNS).

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What this means

The many global economic challenges prevailing around the globe which include the exponential rise of COVID-19, inflation, and the alarming plunge in value for most fiat currencies have made paper money an unreliable store of value, pushing these elite firms to store their value in a deflationary currency like crypto, which can help them to hedge against inflation and further used to preserve wealth.

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