Minimum order size for bitcoin trades at Circle, one of the largest liquidity providers and over-the-counter (OTC) digital asset marketplaces in the world, has shot up to $500,000. That’s 100 percent higher compared to where the figure stood previously.
Rising OTC order sizes
OTC services are optimized for high net worth institutions and individuals looking to conduct large cryptocurrency trades without adversely affecting the market.
In a recent conversation with Business Insider, Circle Trade CEO Jeremy Allaire acknowledged that OTC order size had undergone a steep rise since January 2018 despite the slowdown in the 24-hour volume on retail exchanges.
According to Allaire, the average OTC order at Circle Trade currently stands at nearly $1 million with a few going as high as $100 million. However, the corresponding 24-hour volume on retail exchanges has come down to almost $20 billion a day from $70 billion at the beginning of the year. He further added that the average size of OTC orders would continue to rise.
Sourced through Scoop.it from: btcmanager.com