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Crypto OTC Desks Now Hold Over $22B in Bitcoin: CryptoQuant
Miners often turn to OTC deals to sell bitcoin, CryptoQuant noted.
Updated Aug 22, 2024, 11:44 a.m. Published Aug 22, 2024, 11:41 a.m.
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- The number of BTC held in wallets tied to over-the-counter (OTC) desks has surged to 368,000 BTC, the highest since June 2022, according to CryptoQuant.
- Miners often turn to OTC deals to sell bitcoin.
Crypto over-the-counter (OTC) desks, which act as an intermediary between two trading parties without revealing information about the trade to the public, now hold 368,000 bitcoin worth over $22 billion, according to data tracking firm CryptoQuant.
The tally has increased by 153,000 BTC in three months, reaching the highest since June 2022.
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Institutions and high-volume traders prefer to transact through OTC desks or outside exchange order books to avoid impacting the asset's going market rate. Hence, the activity in OTC desks is said to reflect the behavior of sophisticated market participants, including miners or those responsible for making BTC.
"Miners often turn to OTC deals to sell bitcoin, seeking better execution without impacting the market price as they might on exchanges. The substantial rise in OTC desk balances suggests significant selling activity among miners," CryptoQuant said in a blog post.
"Historically, increases in bitcoin OTC desk balances have been associated with declines in bitcoin prices," CryptoQuant added.
Bitcoin was trading at $61,350 at press time.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Ano ang dapat malaman:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
Ano ang dapat malaman:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
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