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Incredible Increase in Bitcoin{BTC} and Altcoin Whale Trading: 20x compared to 2018!

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Nelson Minier, Kraken’s director of OTC sales and trading, says the platform handles more bitcoin and cryptocurrency transactions more than 20 times a month than early 2018.

Kraken, Bitcoin, and cryptocurrency announced a 2,000% fluctuation in whale trade
In an interview with The Block, Nelson Minier did not disclose the Kraken’s exact volumes for cryptocurrencies but said bitcoin, Ethereum, Bitcoin Cash, Monero and Tether were probably among the top five trading assets. He also noted that the OTC department still tends to generate less volume than the spotlight volume. However, the Minier says there is a correlation between the stock market and OTC:

Volume means the large volume in spot stock exchanges, a large volume in the OTC market. Sometimes we have different volumes because we can have a new cryptocurrency. We can operate a little bit with different cryptocurrencies, and then you see jumps in our volume compared to the stock market, and maybe there won’t be many different jumps. These are anomalies. But there’s a very high correlation, so you think it’s going to bring more volume when you’re betting.

“Bitcoin and crypto-money whales want to serve with white gloves.”
The Minier also addresses the necessity of OTC trading desks and stresses that the platform affects wealthy individuals and institutions that have traded for years and are new to whales:

To some extent, there are institutions in the market, people with high revenues. These are OG’s in the industry, especially OG. And they come to us because they want to trade effectively. They want to serve with white gloves. They know the transactions are quite large, and that’s why they want to be safe. Do they know what they’re doing?

The Kraken OTC official also said he thinks the future of the market will be shaped by the trading of new types of crypto-derivatives.

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