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Binance Follows Major Cryptocurrency Exchanges With Launch of OTC Trading Desk

Number-one ranked cryptocurrency exchange Binance has announced it had launched its over-the-counter (OTC) trading desks for larger transactions, according to a Jan. 23 blog post.

The new tool, simply known as Binance OTC, offers services geared to users performing trades worth at least 20 BTC ($71,000).

“Our OTC desk allows Binance users to trade larger amounts of many cryptocurrencies listed on the exchange, with transactions being settled via their Binance accounts,” officials explained in the post.

The move makes Binance the latest major cryptocurrency exchange to launch OTC services, following hot on the heels of United States exchange Bittrex last week.

In December, meanwhile, crypto finance firm Circle revealed its extant OTC desk had handled payments worth around $24 billion in 2018.

At the time, cryptocurrency news and research publication Diar further found that an increasing number of major

Crypto Markets Unfazed by Latest ETF Withdrawal

The cryptocurrency markets remain unfazed after an ETF withdrawal announcement on Wednesday did little to affect bitcoin’s price.

The Cboe BZX exchange has withdrawn a proposed rule change that would have otherwise paved the way for an ever-elusive bitcoin exchange-traded fund (ETF) backed by VanEck and SolidX.

The announcement, however, did little to spur investors into selling, who so far have held their ground at the day’s close, leaving others to speculate that the events of the day were already priced in days before.

Daily chart

The daily chart shows stagnation for the entire trading session with a small $80 range bound candlestick providing evidence of little interest in the bitcoin and crypto market in the last 24 hours.

Total growing volume has dropped significantly in recent weeks and is typically quite low during unsettled periods.

Low volume also reflects a lack of confidence that usually leads to long periods of

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