• 19 June, 2024
Market News

Coinbase’s Record $7B OTC Bitcoin Surge Signals Market Shift

Coinbase, a major crypto exchange entity in the U.S., recently marked a remarkable milestone. Its over-the-counter (OTC) Bitcoin transfer volume soared to $7 billion. Cryptoquant’s CEO, Ki_young_ju, shared this achievement via a tweet. This surge signifies a major uptick in cryptocurrency trading activity. It suggests a dynamic shift in digital asset transactions.

Moreover, the current Bitcoin value trajectory is bullish, with the recent SEC’s approval of the BTC spot ETF as a key cause. At press time, BTC value is at $$45,965.42 with a 24-hour trading volume of $44,045,702,201. These figures underscore the growing interest and confidence in digital assets.

Furthermore, Coinbase has announced a strategic partnership with Yellow Card. This collaboration, detailed in a recent blog post, focuses on enhancing cryptocurrency transactions. It will facilitate access to USDC, a popular stablecoin. The partnership aims to revolutionize the concept of money. It brings fast, affordable, and reliable transactions to millions.

Coinbase Wallet users in these African countries might witness immediate benefits. Starting in February, they can purchase USDC through the Coinbase Wallet app. This move is set to impact the cryptocurrency landscape in Africa significantly.

Coinbase Wallet’s new feature also allows fee-less USDC transactions. Users could send USDC easily across various platforms. Moreover, transactions via social media apps and email are also made possible. This feature enhances the usability of digital currencies in everyday transactions.

Additionally, Coinbase is broadening its horizon. As highlighted in the blog post, the platform is extending its reach to Africa, targeting 20 countries. This expansion represents a significant step in the platform’s global strategy. It aims to make digital currencies more accessible worldwide.

Hence, Coinbase’s record OTC Bitcoin transfer volume is more than a mere statistic. It reflects a shifting landscape in digital assets markets. These recent achievements and strategic expansions signify a pivotal moment in the rapidly changing crypto market.

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