Multiple cryptocurrency trading companies have reported a rapid increase in OTC trading volume in recent months.
Author: Deep Tide TechFlow
Yesterday's Market Dynamics
DWF Labs Co-founder: AI, DeSci, Quantum Resistance, Meme Coins, etc. will be key narratives in 2025
DWF Labs co-founder Andrei Grachev shared his views on industry trends for 2025 on the X platform. Andrei believes that asset issuance methods characterized by "ICO style, no lock-up period, no vesting terms, and full unlock at TGE" will become more popular.
He pointed out that large-scale financing rounds will emerge in the future, all transactions will occur on-chain, and some large institutions may be laying the groundwork behind the scenes before making their presence known.
Andrei also emphasized that the key narratives in 2025 will revolve around AI, AI agents, decentralized science (DeSci), quantum resistance technology, yield-bearing assets, and meme tokens.
Opinion: ETH is turning $3500 from a resistance level to a support level, and if successful, an upward momentum is expected
Cryptocurrency analyst Satoshi Flipper stated on the X platform that once Ethereum's price flips the psychological barrier of $3500 from a resistance level, it may gain more upward momentum.
He noted that the ETH price is currently trying to turn the $3500 level from a resistance level to a support level, as expected to break through. Psychological numbers like $3500 attract more retail investors' attention, but if ETH cannot break through this level, investor sentiment may be negatively impacted.
Berachain collaborates with Stakestone, Lombard, and Concrete to hold a staking event
During Beramas, Berachain collaborated with Stakestone, Lombard, and Concrete to hold a staking event, where users can stake associated tokens in the respective pools on the Stakestone and Lombard platforms to the Berachain Vault and receive future rewards or points from the platform and Berachain.
The number of cryptocurrency investors in South Korea surpasses 15 million for the first time, with daily trading volume in November nearing that of the stock market
According to a report by Yonhap News Agency, data from the South Korean National Assembly's Finance Committee shows that as of the end of November 2024, the number of cryptocurrency investors in South Korea has surpassed 15 million for the first time, reaching 15.59 million, an increase of 610,000 from October. The total market value of investors' holdings reached 102.6 trillion won (approximately $79 billion), with an average holding of about 6.58 million won (approximately $5,070).
Data shows that the daily average trading volume of South Korea's five major cryptocurrency exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax) reached 14.9 trillion won (approximately $11.5 billion) in November, comparable to the daily average trading volume of the KOSPI and KOSDAQ stock markets (16.9 trillion won). Market analysis suggests that Trump's support for the cryptocurrency industry has driven enthusiasm among South Korean investors.
Pump Science: Tokenomics design completed, BIO airdrop event to be held
Pump Science announced on the X platform that the tokenomics design has been completed, and a BIO airdrop event will be held. Regarding the tokenomics design: 5% of the future issued token supply will be allocated to holders of previous tokens (during migration), and those holding more PS tokens (RIF, URO) will receive new tokens in the future; this mechanism will continue as long as there are new issuances (forever). Regarding the BIO airdrop event, BIO Protocol will airdrop BIO to holders of URO and RIF, awaiting governance approval to connect BIO to Solana, with more airdrops under consideration.
Multiple cryptocurrency trading companies report a rapid increase in cryptocurrency OTC trading volume in recent months
Several cryptocurrency trading companies have recently reported that the trading volume of over-the-counter (OTC) transactions has surged in recent months, with election results being a significant driving force. Tim Ogilvie, head of institutional business at Kraken, stated, "OTC trading is currently exceptionally active, with trading volume surging alongside price increases." He revealed that Kraken's OTC trading volume has increased by 220% year-on-year, with other trading companies reporting similar growth.
Jake Ostrovskis, an OTC trader at market maker Wintermute, noted that the market was relatively calm mid-year, but as the election approached and prices rose, market participants began actively preparing for the election results. He mentioned that Wintermute's discussions with some clients have been ongoing for years, and the election results became the catalyst for them to initiate trading. Similarly, Embert Lin, a trader at market maker GSR, stated that the company's trading volume has significantly increased since the election. With the rise in prices of Bitcoin, Ethereum, and altcoins, projects and investors have become more proactive in managing funds and risks at these price levels while also seeking new opportunities beyond BTC and ETH.
A trader from an OTC trading company privately revealed that recent trading volumes have easily reached levels seen during the peak of the cryptocurrency market in 2021. Additionally, Brett Reeves, head of Go Network at cryptocurrency custody company BitGo, pointed out that the election results are the main driving factor behind the recent surge in trading volume, with two-thirds of the trading volume generated in the three months following the announcement of the election results.
Russian Finance Minister: Russia is using Bitcoin in foreign trade
Russian Finance Minister Anton Siluanov stated today that Russian companies have begun using Bitcoin and other digital currencies for international payments. This year, Russia has allowed the use of cryptocurrencies in foreign trade and has taken steps to legalize the mining of cryptocurrencies like Bitcoin.
Floki ETP may launch on the Swiss Stock Exchange in Q1 next year, DAO community proposes to provide liquidity
Floki plans to launch an exchange-traded product (ETP) based on the FLOKI token on the Swiss Stock Exchange (SIX) in the first quarter of 2025. The development team proposed to allocate a portion of tokens (worth $2.8 million) from the treasury wallet to provide early liquidity for the ETP, with voting ending on December 27 at 19:00 (Beijing time). If the proposal passes, FLOKI will become the second meme token to launch an institutional-grade product in Europe, following Dogecoin (DOGE).
In November, the monthly trading volume of BTC and SOL both hit record highs, while ETH's monthly trading volume decreased by about 50% from its 2021 peak
Data from Token Terminal shows that the monthly trading volume of BTC and SOL both reached all-time highs, while ETH's volume remains about 50% lower than its peak in 2021. In November 2024, the trading volumes for BTC, ETH, and SOL were $2.2 trillion, $1.1 trillion, and $243 billion, respectively.
Market Dynamics
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