Okcoin reported that cryptocurrency exchange Okcoin saw a significant increase in trading volume and institutions in the last 12 months, due mainly to the use of stablecoins or tokens of decentralized finance.

Okcoin reported that its platform had experienced a 450% growth in institutional customers since September 2020. It also saw an increase of 124% in institutional trading volume. The report revealed that 53% of September’s purchases by institutional investors were made for altcoins. In addition, the customers showed “a greater appetite for non-Bitcoin crypto assets” compared to previous years.