itBit’s OTC trading volume fell 19% month-over-month in December due to the annual end-of-year slowdown within the trading world. During this same period, exchanges tracked within the XBX Index posted a 27% decline in trading volume.
Although we had fewer transactions in December, the transactions carried larger ticket sizes. Average volume per trade was nearly 400 XBT in December, a 40% month-over-month increase. The transactional data also shows that December was a “buyer’s market”. Buy-side participants predominantly dictated trade prices while sellers took deeper discounts.
itBit Bitcoin OTC Market Data Summary for December 2015
|Total Bitcoin Volume Traded||23,310 XBT|
|Total USD Amount Traded||$9.9 Million|
|Average Daily Trading Volume||1,059 XBT|
|Month-over-Month Trading Volume Growth||-19%|
December Highlights from the itBit OTC Desk
- Remittance clients increased their overall volume traded up to 2% from a mere 0.1%.
- Institutions continued to dominate OTC volume traded, up another percent to 64%.
- New OTC clients from India and Jersey (see heat map below) started trading with us in December. This brings the number of client countries to 15.
- Bank Leumi USA is itBit’s new banking partner for all US trading clients. The US arm of the Leumi Group brings over 100 years of banking experience and manages over $300 billion in assets worldwide.
To learn more about itBit's OTC trading services, please contact us at OTC@itbit.com. New clients receive $50 in bitcoin upon completing their first OTC trade with us!
Director of Trading, itBit