Coinbase’s Bitcoin OTC trading volume reaches second-highest level in history
According to a Jan. 11 report by CryptoQuant, an on-chain and market analytics tool, Coinbase’s Bitcoin OTC trading volume reached $7.7 billion today. On Jan. 10, an official SEC filing revealed that spot Bitcoin ETFs had received approval for listing on all registered national exchanges in the U.S., including the Nasdaq, NYSE, and CBOE. This approval follows a decade-long pursuit of this type of product. Coinbase records a year-high for #Bitcoin OTC transfer volume at $7 billion today.https://t.co/HrkV3TUGJT pic.twitter.com/vxv0znNJG2 — Ki Young Ju (@ki_young_ju) January 11, 2024 One day later, CryptoQuant reported that the purchase of Bitcoin (BTC) had surged in direct response to this announcement, reporting the highest level since Mar. 21 last year. It is also worth noting that the volume was at $1.3 billion a month earlier. You might also like: CryptoQuant unveil two potential scenarios for spot Bitcoin ETFs At the same time, Glassnode, an on-chain marke...