Bitcoin’s Total Trade Volume Surges Past the $3.5 Billion Mark as Binance Accounts for $1.35 Billion
- Out of the USD $3.5 B that was exchanged yesterday, most of the trading took place on premier crypto exchange platforms such as Binance, Coinbase and Kraken.
- During the same time frame, CMEs BTC tx volume fluctuated between 15 percent to 30 percent.
It's no secret that the past couple of weeks have been amazing for Bitcoin, with the flagship crypto asset recently surging past the $13k mark after more than 12 months. However, in addition to its impressive monetary performance since the start of this year, Bitcoin also registered a 24-hour tx volume of more than $3.5 billion a couple of days back (28th June to be exact).
From a purely technical standpoint, we can see that the aforementioned trade volume was essentially split between a number of different cryptocurrency exchanges including:
To elaborate further on the matter, we can see that of the $3.5 billion (worth of BTC) that was traded yesterday, $1.354 billion was exchanged on Binance while $644.956 Million was traded on Coinbase.
Other trading platforms that too witnessed considerable BTC trade activity on the 28th of June included Kraken, Bitfinex and Bitstamp (whose total BTC trade volume came up to around a billion dollars.)
Bitcoin’s aforementioned spike comes at a time when the premier digital asset set a new 24-hour ATH trading volume of $46 billion.
The earlier record, while quite substantial in itself, stood at just $24 billion.
In closing out this piece, it should be pointed out that BTC is currently trading at a price point of over $12,000 with a total market cap of $214.32 billion.
A lot of experts are of the belief that the recent increase in Bitcoin’s overall tx count can be attributed to the entry of ‘institutional investors and macro players’ (such as FB, JP Morgan) into the crypto sector.