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 <p class="is-style-lead">According to a Jan. 11 report by CryptoQuant, an on-chain and market analytics tool, Coinbase’s Bitcoin OTC <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> reached $7.7 billion today.</p>
 <p>On Jan. 10, an official SEC filing revealed that spot Bitcoin ETFs had received approval for listing on all registered national exchanges in the U.S., including the Nasdaq, NYSE, and CBOE. This approval follows a decade-long pursuit of this type of product.</p>
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    <p lang="en" dir="ltr">Coinbase records a year-high for #Bitcoin OTC transfer <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> at $7 billion today.https://t.co/HrkV3TUGJT pic.twitter.com/vxv0znNJG2</p>— Ki Young Ju (@ki_young_ju) January 11, 2024
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 <p>One day later, CryptoQuant reported that the purchase of Bitcoin (BTC) had surged in direct response to this announcement, reporting the <a rel="noopener noreferrer nofollow" title="highest" href="https://thebittimes.com/tag/highest.html">highest</a> <a rel="noopener noreferrer nofollow" title="level" href="https://thebittimes.com/tag/level.html">level</a> since Mar. 21 last year. It is also worth noting that the <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> was at $1.3 billion a month earlier.</p>
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> CryptoQuant unveil two potential scenarios for spot Bitcoin ETFs
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 <p>At the same time, Glassnode, an on-chain market intelligence platform, revealed that the Bitcoin Hash Rate had also achieved an all-time high value exceeding 600 EH/s, equivalent to a staggering 600 quintillion guesses every second in block puzzle-solving attempts.</p>
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">The #Bitcoin Hash Rate continues its aggressive expansion, reaching an ATH value of over 600 EH/s. This is equivalent to 600 quintillion guesses every second in an attempt to solve the Block puzzle. pic.twitter.com/HWfmb9yH9D</p>— glassnode (@glassnode) January 11, 2024
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 <p>The report states that on-chain transaction <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> is also upward, with daily settlements of over $5.7 billion in economic transfers. This sentiment is mirrored in exchange flows, where a substantial $4.6 billion in daily inflows and outflows underscore the escalating growth in investor activity.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> CryptoQuant CEO reveals how whales prepare for market fluctuations
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-s-bitcoin-otc-trading-volume-reaches-second-highest-level-in-history-tbt76319.html">https://thebittimes.com/coinbase-s-bitcoin-otc-trading-volume-reaches-second-highest-level-in-history-tbt76319.html</a></p>

Coinbase’s Bitcoin OTC trading volume reaches second-highest level in history

TheBitTimes

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