In a [blog post published yesterday on Gemini website](https://gemini.com/blog/introducing-gemini-block-trading/), Cameron Winklevoss, one of the two famous Winklevoss twins and President and Co-founder of the crypto exchange Gemini, announced a new type of transaction, called "block transaction". 

In layman terms, these transaction are for large buyers and sellers who don't want to use the primary exchange order book. It seems to me that this is kind of a secondary market, available only to whales (the minimum requirements will be 10 Bitcoin and 100 Ether). The usual alternative for this kind of trades is OTC (Over the counter) and it is mainly used in order to shield the price from big spikes in supply and demand.

According to the blog post cited above, here's how this will work:

> Any customer can place a block order that specifies: (i) buy or sell, (ii) quantity, (iii) minimum required fill quantity, (iv) and a price limit (the “Indication of Interest”). Market makers only receive quantity, minimum quantity, and the collar price — they do not receive any other information (i.e., side, price limit, etc.) related to the block order. If a market maker agrees to “make a market” that satisfies the Indication of Interest, the block order will be filled.

If you want to participate in the market makers program, you have to ask this specifically in an email to Gemini.

 One of the potential consequences of this new type of transactions could be a smoother trading curve, without the spikes we're seeing usually in the crypto market. It doesn't necessarily mean the trend will change to bullish, but it may mean we we're going to see smoother ups and downs, because they will be based on smaller transactions - big volume transaction being rerouted to the "block trading" program.

And of course, this only apply to the graphs from the Gemini exchange, not to the entire market, but, all in all, I think it's a move in the right direction.
***
_I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at [Dragos Roua](http://dragosroua.com) where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua._
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