Digital Social Hour
Crypto Whale Trades: The $100M Secret (FOMO) | Nick Murphy DSH #929
Thu, 28 Nov 2024
Ever wonder how crypto whales move hundreds of millions without crashing the market? 🐋 Discover the $100M secret behind massive cryptocurrency trades with Nick Murphy, founder of Ace Trading. As one of crypto's most respected OTC trading specialists, Nick reveals the hidden world of high-stakes digital asset transactions. Learn how professional traders execute billion-dollar positions, why timing is everything, and what happens behind the scenes when crypto whales make their moves. Nick shares insider stories about client relationships, market-making strategies, and the delicate art of moving massive amounts of crypto with minimal market impact. From navigating complex trades to building a 100% client retention rate, this episode unveils the real mechanics of institutional crypto trading. Whether you're a trader, investor, or crypto enthusiast, you'll gain valuable insights into how the biggest players in the market operate. Watch as we explore the challenges of crypto banking, the evolution of digital assets, and what it really takes to succeed in the high-stakes world of cryptocurrency trading. Get ready for an unfiltered look into the world of professional crypto trading where millions are moved with surgical precision. 🎯 #bitcoin #bitcoinnews #cryptonews #ethereum #livetrading CHAPTERS: 00:00 - Intro 00:41 - How Ace of Trades Operates 06:14 - Nick's Entry into Crypto 06:48 - Meet Nick’s Team 07:28 - Client Retention Strategies 08:14 - Importance of Mentorship 13:11 - Nick's Three Mottos 15:23 - Mental Health for High Achievers 16:33 - Business Banking Challenges 18:10 - Overview of Ace Trading 21:13 - Future Plans for Nick 23:50 - Benefits of Using ACE for Large Trades 25:02 - Closing Thoughts APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: [email protected] GUEST: Nick Murphy https://www.instagram.com/murphdurfthegr8/ https://www.acetrades.io/ https://www.instagram.com/acetradingllc/ LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Digital Social Hour works with participants in sponsored media and stays compliant with Federal Communications Commission (FCC) regulations regarding sponsored media. #ad Learn more about your ad choices. Visit podcastchoices.com/adchoices
Chapter 1: What is the $100M secret behind crypto whale trades?
like the cryptocurrency industry yeah um and that just makes more eyes on crypto more interesting crypto i mean hell there's a chance that you know um the u.s treasury ends up converting over to more of a digital system we'll see that'd be nuts there has been rumors of them having a digital coin though right yeah yeah that for years i mean well trump has said a lot of things about he wants you know the u.s to be the biggest crypto holder in the world yeah let's see what happens
Chapter 2: How does Ace Trading operate in the crypto market?
All right, guys, Nick Murphy here from Ace Trading. It's the earliest he's been awake in a while, right? That's what we do. Come on.
We got the Vegas time, though, you know. Let's go. It's two hours behind, so we're good.
Chapter 3: What challenges did Nick face when entering the crypto space?
About the Ace of Spades, too. Hey, you know, you got to rep. Starting the day off right. You've been busy these days, I'm sure, right?
Very busy, man.
Very rating and with crypto at an all-time high.
Chapter 4: What strategies does Nick use for client retention?
I'm sure business is booming business is booming It says, you know with our business a little different, you know, we we are on the execution side So, you know price being up just means more people are trading which is good.
Yeah, it's definitely busy But during the bear market you were still doing well still doing well man Wow, you know the difference was people were kind of getting out of positions or getting on the sidelines and just waiting to see what happened and So it was just kind of chill. It was weird. We kind of had the same effect back about two months ago when markets kind of pumped up and then stopped.
Chapter 5: How important is mentorship in the trading industry?
Everybody's waiting to see which way it broke. Interesting times for sure, man. Yeah.
You think this time will stick around?
I couldn't tell you, man. With our business, we are solely caring about volatility and trading the volatility. So if the markets are volatile, we're doing well.
Chapter 6: What does it take to maintain a 100% client retention rate?
Yeah.
Chapter 7: How do crypto whales execute large trades with minimal market impact?
So the more volatile, the better. That's how we see it, man. That's interesting. At heart, we are what's called a market maker. So I've got the market maker mentality. We execute our OTC trades, which is over-the-counter trades. So block trades, big size. Minimum trade, $250K. But we are the best in the business when it comes to executing large trades, large size, with little to no market impact.
So if you were to come to me with 1,000 Bitcoin and say, Nick, let's sell all 1,000, or if you were to do it yourself, you would just sell it all at one time and you'd fuck up the market. The market would go down. Your average execution price, if you will, would go down. Uh, if you came to me, we're very, you know, client objective based. So I would say, Hey, you know, what are you looking to do?
What's your timeline look like? Uh, if you've got a thousand BTC, then let's run an algorithm that slowly unwinds this position over three days, five days, seven days, 10 days. Um, and we would do that based upon your objectives.
i like that has someone actually approached you with that many bitcoins uh we've had much bigger really yes and a thousand yes and a thousand is like i can't even do the equation on that i mean those rates take a little bit longer i mean if you really want to not affect the market you know not push the price around you got to be very careful yeah even as far as like you know the uh crypto whale alerts you're familiar with those yeah i've seen that
If people just see you move 1,000 BTC on the blockchain, people are not like, oh, shit, what's going to happen? They freak out. Exactly. Yeah, I saw one the other day where the guy had like 2,000. Exactly. And what did everybody do? They sold. Well, yeah, everybody's like, what's going to happen? Like somebody moves just 2,000 or 3,000 with 1,000 Bitcoin? Yeah.
Any of those, it's going to make alerts on the blockchain. People are like, oh, shit. Crazy. I wonder how Michael Saylor buys this because he buys huge tranches, right? Well, buying is different. That's dollars to crypto. You can't track the dollars going into the market. Mm-hmm. Yeah, but I think he announces when he buys. I mean, I couldn't tell you, man.
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Chapter 8: What are the future plans for Nick and Ace Trading?
I don't know if that's the smartest move or not. I don't know the guy, so I can't tell you. I have not watched his trading patterns. Do you do every coin or just the top ones? So it depends. What's niche about our business is, yes, mainly, and I'll say market color-wise, we've really only been seeing BTC, ETH, Solana, and stablecoin trades as of late for the majority.
um but ours trading strategies don't just you know they're not just effective in the majors they're also very effective in illiquid markets so for example um let's say you're a crypto pr firm or a crypto law firm right yeah that over the past couple years you've had clients that you brought on and they've paid you partially in crypto partially in cash the crypto being their crypto coin on paper as that crypto pr from a crypto law firm
On paper, you might have a $2 million position of shitcoin XYZ, right? Now, if you look at the daily volume of trades, it might be trading $45,000. So how are you going to unwind that position? You can't. They can't.
Your other desks out here, which are some of the greatest desks in the world that I've learned a lot from, you know, Cumberland, FalconX, you know, Wintermeat, all these other desks that do amazing. I mean, these are the guys that have inspired me to do what I do, but they don't focus on that stuff. To my knowledge at least.
But, you know, these are trades that we will take because, you know, if it's something trading $100,000 in daily volume and you need to unwind a $2 million position, if you were going to do it, you know, you would be paying a shitload in execution fees on the exchange. You would have to sit there and just click, click, click for hours.
And it just, the chances of it working the way it would with you doing it versus us doing it would be very different, you know. With us, you know, I could unwind that trade. It might take a month. It might take even more than a month, but we can do it.
I think the SEC with new leadership is going to change their stance on crypto.
Hey, we'll see, man. We'll see.
I think they will, too.
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