Apr 5 in Our Research
YTD TRADING VOLUME BY CRYPTO ON BINANCE
Continuing from yesterday's analysis, where we highlighted the year-to-date volume across multiple exchanges, today we look at how the trading volume of the main crypto has changed over the last months, specifically on the Binance exchange.
Amidst the recent surge in excitement surrounding the introduction of spot Bitcoin ETFs, the year-to-date (YTD) dollar volume across centralized exchanges has surged to levels not witnessed since late 2021. Considering the top crypto by market cap, the daily trading volume in the Binance exchange peaked at $18 billion on March 6th, marking a substantial increase from the lows observed in early February, which hovered around $6.5 billion. Remarkably, daily exchange volume has surpassed this threshold for less than two months throughout its history, with the majority of this period occurring during the bullish trend of 2021 when Bitcoin initially soared to $69,000. While the surge in daily trading volume has been rapid in March, monthly trading volume has been steadily climbing over the past few months.
Would like to replicate the analysis? Check the resources below:
DataLab: https://lnkd.in/dxxYcHb9
Code available at: https://drive.google.com/drive/folders/10wWINUg1PtWl-nE27NRLkiZRIE_8sXjR?usp=drive_link
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YTD TRADING VOLUME BY CRYPTO ON BINANCE
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