BTC trading volume bigger than ever?

Bitcoin trading volume increases

Bitcoin is becoming increasingly popular among traders, as is also shown by the daily trading volume that reached a new high in 2020 at $ 2.5 billion. This also increases the search interest for Bitcoin.According to Luno crypto exchange, Bitcoin’s average daily trading volume until May 2020 was $ 2 to $ 3 billion. That is more than three times as much as was the case in April. This value, taken from ten exchanges, represents only the actual trading volume, which the blockchain analysis company Arcane Research and the data provider Messari consider credible.

 

Without Coinbase and some others

The exchanges include Coinbase, Gemini and Poloniex.This value exceeds the volume seen during the sell-off in early to mid-March, when Bitcoin crashed from $ 9,100 a week to below $ 4,000. At that time, the average 7-day trading volume was around $ 2.5 billion.Bitcoin’s trading volume is currently at its highest since July 2018, when the average 7-day trading volume was around $ 3 billion when the BTC rose to over $ 13,000 at that time. Subsequently, the average trading volume collapsed, hovering between $ 500 million and $ 1 billion a day for most of 2019.