Created in 2017, 3Commas claims to represent more than 100,000 traders who are involved. The financing was led SBF, who is also a founder of quant trading firm Alameda Research.
After the growth of DeFi, trading tools that do not hold ownership of consumer assets have gained popularity. A fresh investment from Sam Bankman-Fried of FTX may be a major boost for one such site.
3Commas Trading Platform
Centered on a number of triggers and conditional metrics, 3Commas offers non-custodial connections to 23 of the world’s largest crypto exchanges and automatic order execution.
The investment demonstrates how big players in the crypto industry are making steps to engage in exciting ventures to help their potential development.
3Commas, based in Estonia, was founded in 2017 and now projects to represent more than 100,000 active traders and more than $12 billion in trading volume by 2020.
3Commas provides a number of bots for operations such as dollar-cost averaging, in addition to fund management and trading services, where transactions are arranged over time to periodically collect an asset at a cheaper price.
3Commas utilizes a web-based framework that provides an easy-to-use, intuitive user experience with a broad variety of features and comprehensive research. Users may use bots and set losses and target profits and personalize their own business strategies.
Features of 3Commas include:
- Trading is instantly carried out through the cryptocurrency integration of the API and bots operate around the clock. Users may join their desktop and laptop trading dashboard.
- The team has created smartphone software for Android and iOS respectively.
- A variety of tools: in addition to automated bots and performance analysis, the platform offers a broad selection of trading tools and allows users to build, evaluate, and context crypto portfolios, as well as to track the best portfolios generated by other users.
- Users can also participate in group trading and obey the behavior of other active traders and duplicate them.
Alameda Research and SBF
In 2017, Alameda Research was founded by Sam Bankman-Fried, and the company now invests more than $100 million in digital assets and derivatives.
SBF, as Bankman-Fried is sometimes referred to, has developed FTX, a centralized cryptocurrency derivatives exchange. SBF is also the lead developer of Serum, a framework for developing DeFi applications on the Solana blockchain.
FTX defines itself as an exchange of crypto derivatives. FTX sells items that involve futures, stocks, products with uncertainty and leveraged tokens. Wall Street quantum businesses and internet companies such as Jane Street, Optiver, Susquehanna, Twitter , and Google allegedly come from the squad.
FTX was founded by “Alameda Research” a quantum trading group accounting for 30 percent of the value of stock trading on major exchanges.
FTX provides creative features that are not found on other markets, such as MOVE indices that track the volatility of cryptocurrencies and leveraged tokens that are long positions represented by ERC-20 tokens (such as the 3XBULL tokens).
How do you feel about this big investment into better trading?
Check out our Top 5 Crypto Trading Platforms Roundup article for a direct comparison to its closest competitors.