The encryption market is divided into two parts.
Founded investors and retailers are increasingly different paths, as the founding players themselves in Bitcoin
And ethereum ether {eth}} While retail investors flow to Altcoins and Memecoins, according to a report in the middle of the year from Crypto Trading Wintermute.
The report said that the analysis of trading sizes that do not need a prescription, and institutional trading sizes with the largest symbols that were installed at 67 %, most likely supported by ETF flows and organized accumulation compounds. Meanwhile, retailers reduced their BTC and ETH exposure from 46 % to 37 %, which turned capital to the most recent and more included symbols.
“This difference is not a temporary thing, it is a sign that we are witnessing a more mature, sophisticated and specialized encryption market,” said Evjini Gevoy, CEO and founder of Wintermute.
“Investors are no longer chasing the same trend,” he added. “Crypto institutions are treated as the origin of Macro, while retailing traders continue to be attracted to innovation.”
In general, traditional financing (Tradfi) The fastest growing companies in OTC trading sizes, growing 32 % on an annual basis. The report said that this growth was fueled by organizational developments such as the law of genius in the United States and the constant generation of the European Union, which gave larger companies to participate.
Retamentation brokers also witnessed a strong activity, with a rise of 21 % during the same period. Meanwhile, the encrypted protected companies required a decrease of 5 %.
The report indicated that the volume of OTC options jumped 412 % compared to the first half of the year 2024, as the derivative institutions embraced to generate hedge and generate the return. At the same time, the difference contracts (CFDs) It has doubled in diversity, allowing access to less liquid codes in a more efficient capital.
Wintermute said its OTC office has witnessed that immediate trading volumes grow more than twice the pace of central stock exchanges, indicating a shift towards a more size trading and a large size preferred by traditional financing.
The company noticed that Memecoin’s activity became more fragmented. While the total retail trading in Memecoins decreased, the number of symbols circulated by individual users doubled, indicating an appetite for expansion of small assets in the long tail of the market.
However, old names like Dogecoin
Sheba Eno lost the ground in front of a growing list of specialized symbols such as Bonk, DogwFhat {{wif}} Popcat, note the report.
Looking at the second half of 2025, Wintermute analysts said they are watching Spot Dogecoin ETF files with a final regulatory decision expected by October.
“The result can significantly affect the retail market and put a precedent for other alternative assets,” the report said.
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