Arkadiy Amiryan, Chief Working Officer of Veles Finance, challenged the concept that user-friendly crypto buying and selling bots are chargeable for flash crashes or amplifying herd conduct within the digital asset market.
As an alternative, he pointed to social media hype and high-profile endorsements as the first drivers of sudden worth swings, emphasizing that bots alone don’t destabilize the market.
“For my part, cryptocurrency market crashes occur because of loud and typically reckless statements from the most well-liked folks,” Amiryan advised Benzinga in an interview. “Somebody says or writes one thing in X—after which we see a speedy fall of some venture. This seems like unfair play.”
He emphasised that scams and speculative tokens, fairly than automated methods, pose the extra instant risk to market stability.
Amiryan highlighted that buying and selling bots, like these supplied by Veles Finance, are impartial instruments that execute predefined methods with out emotional bias.
“Bots do not endure from FOMO, however the blind spot is at all times danger administration. If customers fail to set correct safeguards, that is the place issues can come up,” he stated.
Based in 2022 and based mostly in Dubai, Veles Finance offers a no-code, cloud-native platform enabling each novice and superior merchants to deploy custom-made automated buying and selling methods throughout main exchanges reminiscent of Binance, Bybit, and OKX.
Veles at the moment helps over 49,000 merchants, with $418 million in complete bot deposits and over $79 million in cumulative consumer income.
Veles Finance on Thursday expanded its attain by means of a strategic partnership with cryptocurrency trade Bitget, integrating its automated buying and selling bots into the Bitget platform.
This collaboration offers Bitget’s international consumer base direct entry to Veles’s customizable bots throughout each spot and futures markets.
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Amiryan acknowledged the rising accessibility of buying and selling bots, because of user-friendly platforms like Veles, however confused the corporate’s give attention to accountable buying and selling.
“We at all times educate our customers about danger administration. Buying and selling bots are highly effective, however customers should perceive their methods and market circumstances to keep away from pointless publicity,” he stated.
The Bitget-Veles partnership additionally offers customers with superior danger administration options, together with dynamic stop-losses, multi-take income, and trailing revenue mechanisms.
Veles’s professional-grade backtesting engine additional permits customers to refine methods utilizing historic market information earlier than committing capital.
As automated crypto buying and selling continues to develop, Amiryan emphasised that scalability is not going to come at the price of user-centricity.
“Our precedence is at all times our customers. With out them, we can’t develop. As we scale, we’ll maintain enhancing consumer expertise, making certain that customization and management stay on the core of our product.”
Trade contributors like Amiryan imagine that whereas algorithmic buying and selling could introduce efficiencies, the important thing to navigating crypto’s inherent volatility lies in sturdy schooling, danger consciousness, and strategic execution, not the abandonment of automation.
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