Crypto OTC Volumes on Wintermute Soared 400% in 2023

Crypto trading volume hit a multi-year low in 2023, as exchanges saw rapid declines during the depths of crypto winter, but that does not mean trading was dampened. In a new report from Wintermute, the market maker and liquidity provider, said that its over-the-counter (OTC) volume was up 400% throughout the year as volumes moved off-exchanges. Wintermute said that during the first half of 2023, its OTC trading volume decreased, while the number of individual trades remained stable. In the second half of the year, however, the number of unique trades grew sixfold to 29 million while weekly OTC volume hit $2 billion. Liquidity in cryptocurrency trading refers to how easily large orders can be executed.

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