Wintermute Breaks Records in Institutional Crypto Trading
Wintermute, a leading liquidity provider and crypto market maker reported increased institutional demand and record trading volumes in 2024.
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The platform’s OTC (Over-The-Counter) trading volume hit a single-day high of $2.24 billion, marking a 313% growth compared to 2023.
OTC volume refers to the trading that occurs directly between buyers and sellers rather than on public exchanges. In the crypto world, OTC trades are often used by large investors who aim to buy or sell significant amounts of cryptocurrency without significantly impacting market prices.
By growing 313%, Wintermute’s OTC volumes outpaced the 142% increase in overall crypto exchange volumes.
The platform noted that in 2024, institutional capital flowed into crypto at an unprecedented scale. Factors driving this included the U.S. SEC’s approval of ETFs at the start of 2024 and election-driven optimism in November.
Additionally, Wintermute expanded its liquidity provision to Hong Kong-listed products, further boosting its market presence. The average trade size rose by 17%, reflecting the entry of larger traders into the market.
A notable highlight from Wintermute’s report is the increased institutional interest in memecoins. In 2024, the market share of memecoins in Wintermute’s OTC volumes rose to 16.2%, up from 7.3% in 2023. The top memecoins traded by institutions include DOGE, SHIB, PEPE, and WIF.
Looking ahead to 2025, crypto’s institutional adoption is expected to grow, driven by increasing regulatory clarity. Wintermute has emphasized its commitment to innovation and plans to enhance its technology further and maintain its competitive edge.
As regulatory clarity improves and blockchain technology gains mainstream acceptance, companies like Wintermute are well-positioned to play a pivotal role in shaping the future of global finance.
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