H1 2024 Sees 95% Increase in OTC Crypto Spot Transactions, Boosted by Institutional Activity
The over-the-counter (OTC) institutional cryptocurrency market experienced a 95% surge in spot transaction volume in the first half of 2024. According to a Finery Markets report.
This increase is driven by the approval of spot bitcoin ETFs and rising institutional participation. The data from two million spot trades highlights significant growth, with ethereum trading volumes up 32% and crypto-to-crypto trades growing by 50%.
Despite a slight slowdown in May and June, the overall trend remains positive, indicating sustained institutional interest. The report also noted a 2.6-fold increase in stablecoin transactions across all blockchains and layers, reflecting the optimistic outlook for digital asset adoption.
Clever Robot News Desk 18th July 2024
