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Whales and Institutions Continue to Purchase Crypto via OTC Methods: Insights into Latest Transactions

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On April 14th, according to Twitter user ember monitoring, whales/institutions that previously purchased coins from Amber and Dragonfly through OTC methods are still continuing. In

Whales and Institutions Continue to Purchase Crypto via OTC Methods: Insights into Latest Transactions

On April 14th, according to Twitter user ember monitoring, whales/institutions that previously purchased coins from Amber and Dragonfly through OTC methods are still continuing. In the past week, the whale/institution used 576000 USDC to purchase 1 million BLURs from Amber; Purchase 500000 BLURs and 200000 DYDXs from Dragonfly using 805000 USDC. At present, the address has purchased a total of 1.4 million DYDXs (with an average cost of $2.57) and 4.5 million BLURs (with an average cost of $0.65).

Giant Whale address purchased $1.4 million BLUR and $4.5 million DYDX through OTC channels

In the past week, Twitter user ember monitoring has reported that whales and institutions that previously purchased coins through over-the-counter (OTC) methods from Amber and Dragonfly continue to do so. In the latest transaction, a whale/institution used 576,000 USDC to purchase 1 million BLURs from Amber and 500,000 BLURs and 200,000 DYDXs from Dragonfly, using 805,000 USDC. Currently, this address has purchased a total of 1.4 million DYDXs (with an average cost of $2.57) and 4.5 million BLURs (with an average cost of $0.65).

Background

Whales and institutions have been known to purchase cryptocurrencies through OTC methods. Over-the-counter refers to a decentralized market that connects buyers and sellers without a centralized exchange. This allows for larger volumes of crypto purchases at better pricing without the market being affected.
Amber and Dragonfly are companies that offer OTC services. Amber provides services that help institutional clients to buy and sell cryptocurrencies over-the-counter easily. Dragonfly, on the other hand, offers OTC trading services for miners, institutions, and individual customers.

Latest Transactions

According to Twitter user ember monitoring, whales and institutions continue to purchase crypto via OTC methods. The most recent transaction involved the purchase of 1 million BLURs from Amber and 500,000 BLURs and 200,000 DYDXs from Dragonfly, using 805,000 USDC.
The total amount purchased to date by this particular address is 1.4 million DYDXs and 4.5 million BLURs. The average cost of DYDXs is $2.57, while for BLURs, it is $0.65.
It is worth noting that such transactions are usually kept private, and it is only through monitoring services like ember monitoring that we get to know about them.

Possible Reasons for the Ongoing Purchases

There are several possible reasons why institutions and whales continue to purchase cryptocurrencies using OTC methods, as follows:

1. Avoiding Market Impact

Crypto purchases made on centralized exchanges can sometimes create a significant price impact on the market. To avoid this, institutions and whales opt for OTC purchases, where the market is not affected.

2. Better Pricing

OTC cryptocurrency purchases usually provide better pricing for large volumes. With trading volumes in millions, OTC services like Amber and Dragonfly can offer whales and institutions a better deal than what is available on centralized exchanges.

3. Anonymity

OTC purchases offer more anonymity for institutions and their clients. This is because they are conducted privately, without exposure on exchanges or public trading platforms.

Summary

Whales and institutions continue to purchase cryptocurrencies using OTC methods. The latest transaction, as reported by ember monitoring, involved the purchase of 1 million BLURs from Amber and 500,000 BLURs and 200,000 DYDXs from Dragonfly, using 805,000 USDC. Current data shows that the particular address has purchased a total of 1.4 million DYDXs and 4.5 million BLURs.
Crypto purchases via OTC methods have a number of advantages, including better pricing, anonymity and avoiding market impact.

FAQ

1. What are over-the-counter (OTC) crypto transactions?
Over-the-counter (OTC) cryptocurrency transactions refer to decentralized markets that allow buyers and sellers to connect privately. This way, large volumes of crypto can be purchased more easily and at better pricing.
2. What do Amber and Dragonfly do?
Amber and Dragonfly are companies that offer OTC services. Amber provides services that help institutional clients to buy and sell cryptocurrencies over-the-counter, while Dragonfly offers OTC trading services for miners, institutions, and individual customers.
3. Why do institutions and whales use OTC methods for crypto purchases?
Institutions and whales use OTC methods for crypto purchases to avoid market impact, obtain better pricing, and maintain anonymity.

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