U.S. Traders Are Most Active In Cryptocurrencies, as Major Crypto Exchanges Launch OTC platforms

According to a February 4 tweet from data analytics firm DataLight shows, U.S. traders are the most active among major cryptocurrency exchanges.

U.S. traders are the most distributed on Coinbase, a major cryptocurrency and wallet in this industry, make up 60% of the platform users. While they account for 24% on Binance, 27% on Bittrex and 28% on Poloniex.

The only major crypto exchange that U.S. traders are least engaged in is the Hong Kong-based Bitfinex at 10%, compared with 13% for German traders.

Earlier this year, Bittrex launched an over-the-counter (OTC) trading platform that supports 200 crypto assets. Based on Cointelegraph reports, OTC trading has become extremely popular among institutional investors who are looking for trading in large volumes.

Bittrex CEO Bill Shihara said in a statement that their clients are very interested in OTC services:

“This offering will be another way for Bittrex to further advance adoption of blockchain technology worldwide, while also providing our customers with price certainty and a fast and easy way to trade large blocks of digital assets.”

Bitfinex, another U.S. exchange, launched its own platform in 2016, while Coinbase, the country's biggest crypto player, is now launching its own product.

Meanwhile, financial technology company Circle disclosed in early January that its over-the-counter trading platform had made $24 billion in transactions in 2018.

Image: pexels.com

Author: Max Li

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