Volumes and volatility are far down from their peak at the beginning of this year – at least, on exchanges. For the secretive OTC market, things are far more active.
The OTC (Over the Counter) bitcoin market has quietly been growing over the past couple of years, as wealthy individuals and financial institutions start dipping their toes into bitcoin. And these are big toes; typically, the size of these trades is at least $100,000 and can be many times that, stretching to hundreds of BTC.
Large traders do business off-exchange for a number of reasons. It’s more private, and there’s no risk of your money disappearing if the exchange goes down. But a major reason is the lack of supply on regular exchanges: put in a big market buy and you’ll drive the price through the roof. Buying blocks of coins, often directly from miners, avoids this slippage.
[link] [comments]
source https://www.reddit.com/r/btc/comments/9pta87/otc_is_alive_and_kicking/
Comments
Post a Comment