The Wintermute OTC team releases its 2023 Year in Review and explores some of the trends setting the stage for the year.
It stated that despite the overall market slowdown, Wintermute's OTC business achieved significant growth in 2023 and continued to develop new features and products. The main performances are as follows:
- OTC weekly trading volume reached a record high of more than 2 billion US dollars;
- The number of counterparties increased by 98% year-on-year;
- The total OTC trading volume increased 4 times from the first half to the second half;
- Trade 206 unique assets and 495 trading pairs in the second half;
- Altcoin trading volume share growth (40% in the second half).
Additionally, Wintermute said some new themes it was seeing in OTC trading:
- Growing interest in non-blue chip tokens;
- TradFi is recovering, moving more trading volume from BTC/ETH to altcoins;
- In the DeFi field, yield farming assets dominate, accounting for about 35% of the annual DeFi transaction volume.