Binance Launches OTC Desk as Wall Street Investors are Clamoring to Buy Altcoins

[cryptochris1]

Athough VanEck, CBOE and Solid X recently pulled their collaborative Bitcoin Exchange Traded Fund (ETF) application and Bakkt delayed the launches of its crypto futures vehicle, Wall Street is still clamoring for digital assets.
While the purported influx if Institutional interest has skirted past the retail investors' radar, industry upstarts are taking notice and responding in kind.
2019 has just begun but the crypto industry is moving forward, full steam ahead. In recent weeks as Bitcoin has continued to trade in a tight, seemingly unbreakable range, organizations in this ecosystem have continued to strut along unveling offerings and positive developments. A number of venture groups have hinted at the creation of new funds, upstarts have sought ambitious business deals and institutions have purportedly begun to double-down on their Bitcoin efforts.
OTC platforms give high volume traders the ability to purchase cryptocurrencies at market prices, with close to zero fees and slippage and with little security and custody risk.
After investing $3 Million in a San Fransisco based OTC platform, Koi Trading. Binance launched its own OTC Desk Jan 23rd, in an announcement on the company blog, Changpeng Zhao "CZ" gave its clients a preliminary look at the in-house crypto-to-crypto OTC desk.
Firm representatives claimed that the desk, which supports the 80+ digital assets listed on Binance would be available for accounts that have completed Level 2 KYC verification and that are looking to trade over 20 Bitcoin worth of value at a time.
Other than the inability to process fiat transactions of any kind, this new offering provides an array of cryptocurrencies unavailable on other platforms.
Binance's OTC desk will allow for Wall Street Investors or High Net-Worth individuals to invest in smaller cap cryptocurrencies previously inaccessible, potentially sparking a newfound wave of interest in Altcoins.
What does this mean for Crypto?
It underscore's a wave of interest in Bitcoin from institutions of Wall Street and abroad. The underlying influx of interest from bigwigs, both in and out of the cryptocurrency space isn't just speculation, its Fact.
Genesis Trading, the OTC arm of the Digital Currency Group conglomerate, recently revealed that its OTC desk saw "tremendous growth" over last year. It was revealed that Genesis' volumes increased by 50% year-over-year.
Circle, a Boston headquartered fintech upstart focused on bolstering the crypto economy, revealed that it facilitated 10,000 OTC transactions in 2018.
Which amounted to a jaw-dropping $24 Billion dollars.
The Block revealed that OTC provides have seen bullish fiat inflows in recent weeks.
Cumberland, the cryptocurrency subsidiary of Chicago investment group DRW, revealed that the net imbalance between buyers and sellers surged by 60% during the second week of January.
Michael Moro of Genesis corroborated that OTC desks have begun to see an influx of buying pressure. Moro remarked that while December saw large holders liquidate their holdings rapidly, buy side interest has begun to pick up at the start of 2019.
With this and other OTC ventures from Binance's peers, Coinbase and BitGo, it has become apparent that Wall Street hasn't given up on crypto at all, there is literally an OTC buying frenzy happening off the books.