Coinbase’s Bitcoin OTC volume reaches second-highest level ever
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According to a January 11 report from on-chain market analysis tool CryptoQuant, Coinbase’s Bitcoin OTC volume reached $7.7 billion today.
On January 10, an official document from the U.S. Securities and Exchange Commission (SEC) showed that the spot Bitcoin ETF has been approved to be listed on all registered national exchanges in the United States, including Nasdaq, the New York Stock Exchange, and the Chicago Board Options Exchange. The approval follows a decade-long pursuit of such a product.
A day later, CryptoQuant reported that the immediate response to the news led to a surge in Bitcoin (BTC) buying, reaching levels not seen since March 21 last year. It’s also worth noting that the transaction volume a month ago was $1.3 billion.
At the same time, the on-chain market intelligence platform Glassnode revealed that Bitcoin’s computing power has also reached a record high of more than 600 EH/s, which is equivalent to an astonishing number of 600 billion guesses per second in block puzzle solving. try.
The report noted that on-chain transaction volume is also rising, with daily economic transfer settlement volume exceeding $5.7 billion. This sentiment is also reflected in foreign exchange flows, with daily inflows and outflows of up to $4.6 billion, underscoring growing investor activity.
