Binance, a global digital asset exchange, said its OTC desk is capturing a rapidly expanding share of trading activity as block trades and structured deals gain traction. In just two months of 2026, the firm’s OTC volume reached 25% of last year’s total, underscoring intensified institutional demand for deep liquidity and trusted execution. CEO Richard Teng stated, “In just two months of 2026, we’ve already hit 25% of last year’s total OTC volume. The institutional demand for deep liquidity and trusted execution is stronger than ever.” The accompanying insights point to rising institutional participation and ongoing demand for bespoke settlement structures within private channels.
Capital inflows via fiat and stablecoins also accelerated, reinforcing a narrative of crypto liquidity moving into regulated, discreet venues. A $105 million WBETH-to-ETH conversion completed within two hours illustrates how OTC desks can execute high-value trades with reduced slippage while avoiding heavy signaling on public order books. These patterns highlight a growing preference for customized settlement structures and discretionary trading across complex, cross-asset moves.
The report links client behavior to Bitcoin’s interaction with the $60,000 level in early February, noting two factors behind expectations for downside stability: increased institutional flows into spot BTC positions and a well-defined trading range between $55,000 and $69,000 established after ETF-driven consolidation. It concludes that while $60,000 may not represent the absolute trough, the floor is likely not far below.
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