certify
Home arrow Article arrow Article Detail

As per the Data of On Chain, there are Institutions Purchasing Bitcoin Over the Counter

Profile Image

Shivangi Mujumdar Follow

INDIA

Dec, 29 2020

Dec, 29 2020

likes | comments 0

Article Image

Even if the trading of the Bitcoin is quite high all the time, there are so many institutions that are still purchasing the Bitcoin. They have been using the counter platform for keeping their investment protected against the impact that has been happening all across the market. Unlike the retail investors or even the institutions that are of small scale using the crypto exchanges, there are many institutions that are actually trading the Bitcoin (BTC,-0.24%) using over the counter trading. This way, their transaction will not move the prices they would if the investors used huge centralized exchanges.


One of the fine reasons why such transactions are frequent is because they are more opaque compared with trades that happen on the exchanges. If the data is not transparent on the ITC transactions then it is quite challenging to track and even gauge the crypto market side. There are some metrics that were monitored by the analytics of the blockchain firm CryptoQuant that gave an idea of what exactly has been happening in the OTC market if the crypto.


Basically, the overall value of the Bitcoin is transferred from Pro wallets of the Coinbase form 2020. This happened when there was a huge outflow of the Bitcoin that took place on Coinbase Pro which it usually goes on to the own cold wallets of the Coinbase that has been holding 6,000-8,000 BTC. It is quite clear that certainly, this is not reaching the hot wallets and the withdrawals of exchange users can happen but nearly 99% of big transactions more than 5,000 Bitcoin are either internal transfers or going to the wallets of the custody. Besides the custody of the Coinbase is well integrated with the OTC desk of the Coinbase which means that the clients can leverage the desk of OTC without requiring to move their funds from the cold storage.


likes | comments 0

Profile Image

Shivangi Mujumdar

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
New York Assembly Proposes Adoption of Cryptocurrency for Fines and Tax Payments

The New York State Assembly has proposed a new bill on Jan. 26 aimed at enabling state agencies to receive cryptocurrency as a payment option for fines, taxes, fees, and other state-mandated payments.;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.