"Institutional Investors Increasing Demand for Bitcoin (BTC)... OTC Trading on Coinbase Prime Rises"
JH Kim
Summary
- Institutional investors are reportedly increasing their accumulation of Bitcoin (BTC) through Coinbase Prime's OTC trading.
- Ju Ki-young, CEO of CryptoQuant, analyzed that many institutions in the United States prefer to accumulate BTC.
- BTC is reported to be trading at a price up 4.87% from the previous day in the Binance Tether market.
According to The Block, a cryptocurrency-focused media outlet, on the 17th (local time), Ju Ki-young, CEO of CryptoQuant, stated, "Recently, the inflow of USD into Coinbase Prime is increasing," indicating "this means that institutional investors are increasing their OTC (over-the-counter) Bitcoin (BTC) transactions."
He further analyzed, "Many institutions in the United States prefer to accumulate BTC through Coinbase Prime's OTC trading."
Meanwhile, BTC is trading at $104,595.92, up 4.87% from the previous day, based on the Binance Tether (USDT) market as of 01:31 on the 18th.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
