Crypto markets are in the doldrums at the moment, just as they were this time last year. A $10 billion dump on the week looks bad in the short term but things may not be that negative overall. One of the largest players in the industry has been on a shopping spree this year.<\/p>\n
Bear markets<\/a> will shake out the weak hands leaving only the strongest left. 2018 was a clear example of that and the latter half of this year is turning into a case of D\u00e9j\u00e0 vu.<\/p>\n Crypto exchanges profit both ways through trading commissions, spreads and associated fees so they can afford to scoop up smaller outfits when the digital chips are down.<\/p>\n Kraken is one of the world\u2019s top crypto exchanges with a reported daily volume of almost $150 million according to CoinGecko<\/a>. \u00a0Earlier this year the exchange was seeking valuation at $4 billion<\/a> as reported by NewsBTC at the time.<\/p>\n The San Francisco based exchange recently announced<\/a> that it acquiring Circle Trade, one of the most recognized over the counter trading desks in the industry.<\/p>\n This will enable the existing OTC desk to expand into Asian markets, adding 20 new professionals to the team.<\/p>\n Crypto research firm TokenData noted that this was the fourth major acquisition this year by the 2011 founded exchange.<\/p>\n 1\/ Kraken's acquisition of Circle Trade is @jespow<\/a> 's 4th acquisition of the year after Crypto Facilities (Feb), Cryptofinance (Jul), and Cryptofacilities (Jul). https:\/\/t.co\/M1q3CTUiO3<\/a><\/p>\n — TokenData (@TokenData) December 17, 2019<\/a><\/p><\/blockquote>\n\n