Share of OTC activities in crypto transaction volume increases by 600%
November 4, 2021 (Investorideas.com Newswire) Popular movement or controlled from the outside? Whether and to what extent a few investors can significantly influence the crypto market has been the subject of critical discussion for some time. As a new infographic from Block-Builders.net shows, there are indications of a high level of concentrated power in the crypto space.
> OTC trading, dominated by institutional investors, accounted for 5% of crypto trading volume in 2017, but has since climbed to 35%, an increase of 600%. The derivatives market accounts for an additional 45%, while only 20% of the volume is attributable to platforms used mainly by private investors.
> Overall, as data from a recent study suggests, around a third of Bitcoin is owned by the top 10,000 individual investors. These data should actually be taken as a guide and be treated with great caution. It is not excluded that some people control more than one of these addresses, the real concentration of power could therefore be even greater.
> The study in question, however, appears to be much more authoritative than, say, Bitinfocharts’ Bitcoin Rich List. Unlike the list, it distinguishes between individuals and middlemen who manage other people’s Bitcoin holdings.
> In the meantime, concentration is even stronger in the mining sector. As the infographic shows, the 10% of Bitcoin miners control around 90% of the total mining capacity.
> Despite all this, more and more private investors are discovering cryptocurrencies like Bitcoin, Ethereum & Co. on their own.Although their influence is limited, they may as well have benefited from past price movements. For example, Bitcoin’s value soared 380.5% in a 365-day review.
> According to DZ-Bank analysts, Bitcoin could still have a long way to go. They think Bitcoin prices of $ 175,000 or even $ 300,000 are within the realm of possibility.
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