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April 23, 2018

Circle Trade, the trading operation of Circle, has increased its minimum ticket size on Bitcoin (TIKER: BTC.EXANTE) trades to $500,000 from $250,000, Circle chief executive Jeremy Allaire told Business Insider.

According to Allaire, the size of block trades made by Circle Trade has grown since the beginning of the year.

That's despite a sharp decline in cryptocurrency trading volumes across retail exchanges. Per data from CoinMarketCap, 24-hour trading volumes are down to about $20 billion a day from all-time highs near $70 billion at the beginning of the year.

But "the market is robust" for Circle.

"The minimum ticket size has moved up to $500,000 with an average of $1 million," Allaire said. Some transactions, according to Allaire, are larger than $100 million. "That watermark will continue to rise," Allaire said.

By Jade Olafson

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