Q1 activity at Okcoin shows that financial institutions are increasingly looking to stablecoin investments and decentralized financial services to hold Bitcoin.
San Francisco, April 7, 2022 / PRNewswire /- OkcoinStablecoin, one of the world’s largest and fastest growing cryptocurrency platforms, today accounted for 34% of Okcoin’s institutional trading volume in the first quarter of 2022, the fourth quarter of 2021 Reported an increase of 25% from, and a 210% increase from the first quarter of 2021. Quarterly investment in Okcoin also showed growing interest in diversifying Bitcoin activity, with purchases of Stacks (STX) (an asset that enables BTC lending, forecast markets, etc.) up 43% from the first quarter of 2021. Did. The timing of both trends is consistent with rising inflation around the world last year, emphasizing the role of Bitcoin and Stablecoin as a hedge against flat buying power declines.
“The institutional trading activity seen at Okcoin reflects macroeconomic expectations for a continued inflation surge,” he said. Jason Lau, COO of Okcoin. “As a rare asset, Bitcoin has always been an attractive inflation hedge, but now it goes one step further with large holders entering the lending and borrowing of decentralized Bitcoin, yield agriculture and more. Not only does it provide an upside-down assessment, but it also opens up access to DeFi yield opportunities, making it an ideal combination of stability and liquidity, which is especially appealing to today’s investors. “
In particular, the purchase by institutional investors of Tether (USDT), the largest stablecoin by market capitalization, surpassed that of Bitcoin for the first time. January 2022In the same month, US inflation reached 7.5%, the highest in 40 years. Other important stablecoin activities between institutions include a 470% increase in TerraUSD (UST) purchases and a 365% increase in USDK purchases from January. March 2022..
In addition to a 43% increase in STX purchases, institutions have made significant investments in Arkadiko (DIKO), a stack-based network for Bitcoin loan repayments, from the fourth quarter of 2021 to the first quarter of 2022. DIKO purchases increased by 480%. NYC Coin (NYC), which is built on the stack and allows investors to bet to earn a yield on Bitcoin, increased by 134% by the end of March after the asset was listed. January 2022..
The surge in organizational involvement in Bitcoin-based DeFi services began in the first quarter. Bitcoin OdysseyPledge of development between venture companies $ 165 million For startups building solutions for Bitcoin adoption. Co-founded by Okcoin and Stacks Accelerator, this group includes institutions such as the Digital Currency Group, GBV Capital, White Star Capital and GSR.
For more information, please visit: okcoin.com/institutions..
Founded in 2013, Okcoin is a US-based cryptocurrency exchange that serves more than 190 countries and territories. With this platform, private and institutional investors will use local currencies to generate more than 50 digital assets with the mission of making cryptocurrencies easily available to everyone, including first-time buyers. You can buy it. Okcoin was the first centralized exchange to offer direct entry into decentralized finance (DeFi). obtain, A tool for earning APY through decentralized lending, liquidity pools, staking and more. In addition, Okcoin provides institutional trading tools and APIs for asset managers, venture capital and hedge funds, retail brokers, payment processors and more. For more information, follow Okcoin on Twitter @Okcoin and visit okcoin.com.
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