Traders and industry experts have reported a surge in over-the-counter (OTC) cryptocurrency trading volumes following the US election. According to The Block, Kraken's OTC volumes are up 220% year-over-year, with other crypto exchanges reporting similar increases. This uptick in OTC trading may suggest that investors gained confidence in the crypto market after the election results were announced. Jake Ostrovskis, an OTC trader at Wintermute, said: "In the lead-up to the U.S. election, when crypto prices were rallying, trading was actually pretty quiet... It seems some investors saw the resolution of the U.S. election as a green light to start trading." This increase in OTC trading is also attributed to institutional investors seeking to diversify their crypto portfolios beyond Bitcoin (BTC) and Ethereum (ETH). Embert Lin, a trader at GSR, said: "The BTC/ETH and altcoin rally has made investors much more active in managing their risk. Institutional investors are also looking to increase their exposure to crypto beyond just BTC and ETH." Overall, the surge in OTC trading volume indicates a growing confidence in the cryptocurrency market. It remains to be seen whether this trend will continue in the long term.