Wintermute Year-End Report: 313% Growth in OTC Trading in 2024, Meme Coin Trading Doubles

ChainCatcher news, according to The Block, Wintermute stated in its year-end report that its over-the-counter trading volume grew by 313% last year, surpassing the overall cryptocurrency trading market's annual growth rate of 142%. The report added that the number of trades increased by 250% compared to 2023. Last year's peak daily over-the-counter trading volume reached $2.24 billion, significantly up from the weekly record of $2 billion set in 2023.

The report also indicated that as institutions seek more complex yield and risk management tools, the volume of over-the-counter derivatives trading grew by 300%. Wintermute noted that traditional financial participants showed greater interest in meme coins, which rapidly rose in 2024. The share of meme coins in Wintermute's over-the-counter spot trading volume increased from 7.3% in 2023 to 16.2% last year, while the share of major cryptocurrencies declined from 67.9% to 58.7%.