The Okcoin cryptocurrency exchange recently published its statistics, announcing increased interest from institutional investors in altcoins. The number and volume of institutional transactions has increased significantly over the last year.
Okcoin: Interest in altcoins on the rise
On October 26, the Okcoin exchange published a report stating that between September 2020 and September 2021, the exchange saw a 450% increase in the number of institutional customers on its platform. The trading volume for the same period was 124%.
The report also states that 53% of purchases by institutional investors were made in September for altcoins. Compared to previous years, customers of the cryptocurrency exchange showed a greater interest in “non-BTC” assets.
“Institutional activity on the platform demonstrates macro sentiment among large investors, with clients including asset managers, venture capital and hedge funds, retail brokers, payment processors and others around the world.”
In 2020, the institutions preferred exclusively altcoins at least four years old. ETH and Litecoin thus became very popular. This year, the exchange also recorded buying activity at DeFi, including MiamiCoin, a token of the American city of Miami.
“Other companies in the crypto and blockchain space have reached similar conclusions based on data from trading platforms.”
Conclusion
Institutional interest in cryptocurrencies is constantly growing, as evidenced by the quarterly statistics of several cryptocurrency exchanges. Altcoins are significantly more interesting for institutions than the world’s largest cryptocurrency. More information about Okcoin cryptocurrency exchange can be found under the attached link HERE.
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