The cryptocurrency market is showing signs of maturation, particularly through the rise of over-the-counter (OTC) trading. According to the results published in the material, this development indicates a shift towards a more sophisticated trading environment, rather than a fragmented one.
Growth of Centralized Exchange Spot Volumes
In 2025, centralized exchange spot volumes experienced a modest growth of only 9%. In contrast, OTC trading has exhibited consistent and compounding growth throughout the market cycle, highlighting its increasing importance in the crypto landscape.
Integration of Cryptocurrencies into Institutional Balance Sheets
This trend suggests that as cryptocurrencies become more integrated into institutional balance sheets, the trading ecosystem is beginning to resemble that of mature foreign exchange and fixed-income markets. In these established markets, a significant portion of trading is conducted off-exchange to reduce market impact and execution risks. This practice is now being mirrored in the cryptocurrency sector.
The cryptocurrency market is currently experiencing renewed interest in Bonk and Pepe tokens, as highlighted in a recent report. This resurgence contrasts with the broader trends discussed in the previous article on OTC trading growth. For more details, see read more.
