Several cryptocurrency trading firms reported a sharp increase in OTC trading volumes following the US election and cryptocurrency price hikes.
Surge in OTC Crypto Trading
OTC crypto trading volumes have increased by 220% compared to last year. Jake Ostrovskis from Wintermute noted that the election played a key role in market participation decisions. Major investors and projects are becoming more proactive in managing risks and exploring opportunities beyond BTC and ETH.
Institutions Value Liquidity and Options Market
Clients are engaging with more cryptocurrencies like Solana, BNB, Tron, and AAVE apart from Bitcoin and Ethereum due to their strong liquidity. The evolution of the options market aids in hedging, and the launch of Bitcoin ETF options has enabled major brokers to create cross-collateralization products. As per SoSoValue data, the total open interest equaled $7.98 billion.
Six Bitcoin Funds to List in Israel
According to CoinDesk, six mutual funds tracking Bitcoin prices have received approval and plan to start trading on December 31.
The growing interest in OTC trading and altcoins highlights the crypto market's evolution, offering new avenues for investors.
