Analysis: Trump's victory doubled last year's institutional cryptocurrency OTC trading volume

2025-01-14 08:29:18

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ChainCatcher news, according to Cointelegraph, based on data from the cryptocurrency OTC infrastructure company Finery Markets, the institutional cryptocurrency over-the-counter (OTC) trading volume in 2024 increased by 106%, primarily driven by Trump's victory in the U.S. election and the growing demand for U.S. spot cryptocurrency ETFs.

The OTC trading volumes of Bitcoin, Ethereum, and stablecoins grew year-on-year by 80%, 187%, and 191% respectively in the fourth quarter. Finery stated that the Trump administration's supportive stance on cryptocurrency led to a peak in trading volume in the fourth quarter. Additionally, the OTC trading volume in the second quarter of 2024 increased by 110% year-on-year, mainly due to the "successful" launch of the U.S. spot Bitcoin ETF, while the trading volumes in the first and third quarters grew by 80% and 78% respectively.

Since 2023, OTC trading volumes have continued to rise, reflecting a market that is more inclined towards private trading methods. Finery pointed out that the attitude of more traditional financial institutions towards cryptocurrency has shifted from "skeptical" to "neutral or accepting," which has also contributed to market maturation. This data is based on the analysis of 4 million spot trades on the platform in 2024.

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