Despite regulatory uncertainty in the Indian crypto sector, new platforms continue to foray into the country to lure investors amid growing crypto adoption. The latest to get into the market is the algorithmic trading platform Panther Quant that has made a strategic tie-up with the US-based business accelerator Black Dog Venture Partners to launch an AI cryptocurrency trading and NFT platform. Black Dog CEO Scott Kelly will join the company as a strategic advisor. The company said in a statement that the platform can analyse “real-time sentiments of the cryptocurrency market” as “it is next to impossible for a human mind to process the overwhelming data and sentiments that flow around the crypto market adding to its volatility.”
“This partnership will add a great amount of credibility because of the vast experience Kelly possesses. This will in return increase the confidence of people investing in cryptocurrency through our platform. The platform also focuses on the need to analyze the data and beliefs of the market to provide the trader with an in-depth insight into the crypto market,” said Manav Bajaj, Founder, Panther Quant.
The new crypto trading platform would leverage AI to scan all digital platforms including social media to analyse the sentiments of the crypto coins in real-time and filter the top trending pairs for the trader to trade, the company said. Panther Quant will also launch the first NFT marketplace where users can “convert their strategies into NFTs, trade with other users on the platform, and make profits!” the company claimed.
“Their (Panther Quant) innovative use of NFTs provides traders with the opportunity to share their research and increase returns for all,” said Kelly.
Already a handful of crypto platforms had entered the Indian market this year. In November, Singapore-based crypto futures and spot trading exchange Coinstore had also announced its foray into the Indian market with the launch of its web and app platform for Indian users. The exchange began with enabling trading into over 50 cryptocurrencies. The launch had assumed significance as more than 20 per cent of Coinstore’s active users come from India. US-based crypto trading platform CrossTower had also entered India in September while in April, Malaysia-headquartered crypto exchange CGCX.io was launched in India.
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