OKX Liquid Marketplace achieves $3 billion in institutional trading volume

OKX Liquid Marketplace achieves $3 billion in institutional trading volume

The total market capitalization of cryptocurrencies has reached an impressive $1.21 trillion. Additionally, the trade volume on OKX’s Liquid Marketplace, designed for professional and institutional traders, has exceeded $3 billion.

In a recent announcement, OKX, the second-largest cryptocurrency exchange in terms of 24-hour trading volume, revealed this significant milestone. On Friday, OKX shared that their liquidity network, called the ‘Liquid Marketplace,’ has exceeded a trading volume milestone of $3 billion.

Professional and institutional traders use the Liquidity Marketplace to request quotes (RFQs) from market makers, enabling large digital asset transactions. Importantly, these transactions are executed discreetly to minimize the impact on market prices during settlement.

In April 2023, OKX announced that the trading volume on the Liquid Marketplace had surpassed $1 billion in the first three months of the year. Remarkably, by the end of June 2023, the trading volume has more than tripled that initial figure.

Compiled by Coinbold