Over-the-counter cryptocurrency trading has exploded in China in recent months, and traders are busy buying Bitcoin with the most controversial stablecoin in existence – Tether. The dollar-resistant stable is often linked to the manipulation of bitcoin prices and has engaged in legal and public scuffles with US authorities.

Chainalysis suggests that the Asia-Pacific region accounts for 40% of trading activity from the top 50 exchanges in bitcoins. These exchanges were responsible for handling about 35% of Bitcoin traffic in the first half of 2019. Crypto exchanges from this region account for 905 of all options and futures contracts traded globally. It should be noted that during this period, 2.36 billion contracts were sold.

“People should pay more attention to the formation of prices on major Asian exchanges. There is likely to be a large amount of liquidity out there that, for example, these OTC brokers will provide. He can move very fast.”