The study, based on more than 4.1 million trades executed between January and June on its non-custodial trading platform, showed a 112.6% year-over-year increase in total OTC volume. The number of trades climbed 57.6%, though the sharpest growth came from stablecoin transactions, which surged 154%.
Crypto-to-stablecoin flows jumped 277.4%, far surpassing the 48.5% increase in crypto-to-fiat conversions. This performance confirms it as the fastest-growing segment within the ecosystem.
USDC delivered the strongest performance of the semester, multiplying its volume by 29. This surge was tied to the MiCA regulatory framework in Europe, which led several exchanges to restrict or delist its main competitor, USDT. While Bitcoin, Ethereum, and stablecoins still account for most institutional trading rotation, altcoins like Cardano, Litecoin, Solana, Tron, and XRP managed to capture 16.7% of OTC volume.
