Trading activity at one of the largest cryptocurrency trading shops is picking up despite a lull across exchanges that trade crypto.

In an interview with Business Insider, Circle chief executive Jeremy Allaire said the size of block trades made by Circle Trade, the firm’s over-the-counter trading desk, has grown since the beginning of the year.

That’s despite a sharp decline in cryptocurrency trading volumes across retail exchanges. Per data from CoinMarketCap, 24-hour trading volumes are down to about $20 billion a day from all-time highs near $70 billion at the beginning of the year.