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We reported back in October 2018, about the outpacing interests of institutional clients in over-the-counter (OTC) markets instead of exchanges to enter the bitcoin space, as per the Forbes report.
The aggressive aspirants of cryptocurrencies expect that the exchanges should contain major digital assets in order to execute different trade strategies, such as, trading, arbitrage, swapping and for hedging. Some renowned exchanges like Binance, Poloniex, and Bittrex etc are satisfying these needs.
Well, Binance offers more than 290 trading pairs and while Bittrex offers 260 cryptocurrencies.
Most importantly, please be informed that many coins indicate lack of scrutinizing procedure for their authenticity. Quite a few coins on such exchanges have had the instance of scams and been delisted in the recent past because of the inadequate volumes.
OTC trading platform or fiat to cryptocurrency platform enables users to place orders with their specified payment method. Further, it allows them to proceed the order with the self-selected exchange rate to trade cryptocurrencies with fiat currencies.
Bittrex has now made an announcement via twitter about a launch of an OTC platform as the value over-the-counter trading surges to be on a par with retail exchanges.
However, it is wise to know where is the demand intensifying from? What has prompted OTC demand
Bittrex has joined top exchanges Coinbase, Circle, and Bitfinex with an over-the-counter (OTC) trading platform that will offer nearly 200 crypto assets.
This is a significant increase from the limited selection of cryptocurrencies that can be traded with OTC firms like Circle, Coinbase, and Cumberland, and reflects the continued development of a market that has seen a resurgence as prices have fallen. Courtesy: BNC
Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at -66 levels (which is bearish), while hourly USD spot index was at -14 (mildly bearish) while articulating at (12:08 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex
