在最后一周, 而加密市场受到重创, 以数字货币为中心的场外交易 (场外交易) 交易台被订单淹没. 加密货币场外交易柜台 Cumberland, a subsidiary of DRW, explained that on June 13, the firm saw 30% more volume than the previous year-to-date high on May 13.
Cumberland Says ‘On Big Swings, More Volume Tends to Come to OTC Desks’
Over-the-counter (场外交易) trading desks allow high-net-worth crypto traders to trade coins without affecting spot markets as much as they would trading on a traditional exchange. OTC trading desks also provide liquidity for big buyers that smaller exchanges cannot provide. A number of companies offer OTC services to crypto traders like Kraken OTC, 猎鹰, 坎伯兰, 雅典娜投资服务, 加密服务台, B2C2, 银行大楼谢赫, 比特熊猫Plus, and Coin Cola.
Amid the recent crypto market carnage, 这 DRW company Cumberland tweeted about the firm’s OTC flow during the past week and let people in on some of the moves that were made. “The most frequent question we’re asked on weeks like this is ‘what does the flow look like?’” 坎伯兰 发推文 on June 14. “OTC flow gives some insights into how the market is handling these major moves,” the OTC trading desk added. Cumberland was founded in 2014, and over the last few years, it has become one of the top OTC desks worldwide.
When Cumberland first started, news reports noted that the company was able to acquire massive amounts of bitcoin (比特币) via a few U.S. Marshalls’ operated auctions. Cumberland offers more than 30 different digital assets against 500 对, and the company claims to be “one of the largest liquidity providers in the cryptocurrency space.” Speaking about the recent crypto market rout, Cumberland disclosed that lots of crypto volume came directly to OTC desks.
On big swings, more volume tends to come to OTC desks, and yesterday was no exception; it was the most volume we’ve seen so far this year. 实际上, it was 30% more volume than the previous YTD high, May 13th. Traders tend to use OTC during fast markets because it’s much easier to move size. Volumes were very BTC-centric, with about 75% of the total flow in bitcoin. 以太坊 was the majority of the remainder. When looking to exit risk, traders tend to trade the most liquid products.
The crypto market bloodbath had shown a significant amount of leverage was wiped out during the last two weeks. Cumberland suggested that quite a bit of the flow on June 13 was liquidations. A number of crypto lending firms have been accused of being liquidated on very large positions in recent times such as 摄氏度. Large crypto hedge funds like Three Arrows Capital (3交流电) are also being 被告 of having financial hardships and dealing with liquidations from over-leveraged positions.
“The flow ratio suggests a lot of the flow was liquidations, with a 2:1 ratio of sellers to buyers,” Cumberland’s Twitter thread concluded. “As always, Cumberland is proud to act as the backstop of liquidity during the most severe market moves.”
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