Wintermute Reports 400% Surge in OTC Crypto Trading Volumes for 2023 Wintermute has reported a staggering 400% increase in over-the-counter
(OTC) trading volumes for the year 2023 in the midst of a challenging year for crypto exchanges.In the latest report of its OTC performance, the crypto market maker and liquidity provider
Wintermute revealed that its OTC trading volume has surged by four times despite the market downturn.
“From the early resurgence, through a volatile mid-year, ending with a renewed optimism largely fueled by expectations for spot ETF approval,” the report wrote so
concluding 2023. “Last year, while the markets took a moment to breathe, we focused on building out our OTC business, increasing our capabilities, and adding
new product offerings.” In the first half (H1) of 2023, Wintermute’s OTC volumes
initially decreased and remained at a lower level, while the second half (H2) has seen a tremendous boost leading to the total amount quadrupled.
“We saw a significant increase in
trading activity with the number of trades growing over 6x, making up over 29 million trades,” wrote the report. “
We also saw the largest OTC volume week of >$2 billion during this time.”
