Kraken Exchange reports on the growth of over-the-counter trading volumes

The head of the Kraken cryptocurrency exchange unit, Nelson Minier, said that over the past year, the volume of OTC trading on the site has grown 20 times.

At the same time, Minier did not disclose the actual volumes of trade, but only noted that they are constantly growing. Last year, the volume of trade on the exchange amounted to $ 85 billion, however, according to Minier, over-the-counter trade occupies only a small part of this volume.

“Previously, it was often said that the OTC market would exceed the derivatives market. 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 in the derivatives market, then we should expect an increase in activity in the OTC market. The most popular cryptocurrencies are BTC and ETH. BCH, XMR and USDT are also quite popular.

Interestingly, the Kraken OTC division employs only 19 employees, but their efforts are quite sufficient to maintain trading even after a 20-fold increase in volumes.

“We do not have an overabundance of free people, but we have enough workers. We are trying to do our job more efficiently, ”said Minier.

Note that in April this year, a lawsuit was filed against the Kraken exchange from a former employee of the company. Jonathan Silverman (Jonathan Silverman) said that the exchange did not pay him for the work and demanded more than $ 900,000.