The head of the over-the-counter trading division of the Kraken cryptocurrency exchange, Nelson Minier, said that over the past year, the volume of OTC trading on the site has increased 20 times.
At the same time, the Minier did not disclose the actual trading volumes, but only noted that they are constantly growing. Last year, the volume of trading on the exchange amounted to $85 billion, but, according to Minier, over-the-counter trading takes up only a small part of this volume.
“Previously, it was often said that the over-the-counter market would exceed the urgent one. In fact, sometimes this happens, but very rarely, ” he said.
However, usually trading volumes are correlated. That is, if there is a surge in the number of transactions on the futures market, then we should expect an increase in activity on the OTC market. The most popular cryptocurrencies are BTC and ETH. BCH, XMR and USDT are also quite popular.
Interestingly, only 19 employees work in the over-the-counter division of Kraken, but their efforts are quite enough to maintain trading even after a 20-fold increase in volumes.
“We do not have an overabundance of free people, but we have quite enough workers. We are trying to do our work more efficiently, ” Minier said.
It should be noted that in April of this year, a lawsuit was filed against the Kraken exchange from a former employee of the company. Jonathan Silverman said that the exchange did not pay him for his work and demanded more than $900,000