The real size of the Bitcoin market cannot be tracked yet because much of BTC is traded via P2P, OTC and other private channels.
“You kind of have this black box around Bitcoin. You don’t really know how much the market is total. If Bitcoin functions as P2P, you’re not going to quantifiably measure how much Bitcoin is traded.”
“P2P platforms include places such as Binance P2P, Huobi P2P, Paxful, Remitano and so on,” the executive noted. CoinGecko has no plans to track such platforms in the near future, Ong noted.Apart from P2P, CoinGecko also doesn’t record institutional trades on OTC, Ong said, adding: The new remarks from Jan3 CEO may imply that cryptocurrency exchange moguls like Binance or Coinbase might not dominate the Bitcoin market as much as some might think.
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