How OTC Desks Stabilized Markets?
Over-the-counter (OTC) desks played a crucial role in stabilizing trading during the recent crypto market crash by acting as shock absorbers that contained volatility and limited broader systemic risks, according to a note from Finery Markets, a leading crypto ECN and trading SaaS provider ranked among the top 30 digital asset firms globally.
On Friday, bitcoin , the leading cryptocurrency by market value, plunged from around $122,000 to $103,000, with most of the losses occurring in the late hours. The broader market wilted, marked massive losses in alternative cryptocurrencies and volatility in otherwise stable cryptocurrencies such as Ethena’s synthetic dollar USDe, Wrapped Beacon Ether (wBETH) and Binance Staked SOL…
