Daily Trading Volume of Bitcoin has Exceeded $3 Billion

1 min reading
Phil Konieczny: "To szczyt kanału spadkowego BTC" [ANALIZA]

Bitcoin's average transaction volume exceeded $3 billion during one day. The value increased by more than 200% in comparison to April this year.

Bitcoin's average transaction volume exceeded $3 billion during one day. The value increased by more than 200% in comparison to April this year.

Price hikes on Bitcoin only

During the last 90 days, we could observe an impressive increase in the trading volume of Bitcoin. Exactly three months ago, on April 17, it was just over $1 billion. On July 16, it was $3.22 billion, an increase of nearly 210%. source: Coinmetrics.io Only Bitcoin recorded such a huge increase in its volume - other altcoins can only dream about it. Ethereum, for example, increased by 77% in the same period (to around 657 million). In turn, Ripple increased only by 61%, to just over $245 million.

Unrelated to the value

For the first time, as shown in the chart, the value of $3 billion was exceeded a few days ago, specifically on July 11. On that day Bitcoin's price was around 11,500 USD. Today, it is significantly lower - BTC fell below $10,000, and yet the volume is still growing. Commentators are almost unanimous in the opinion that Bitcoin's price recession is related to the criticism that meets Libra, Facebook's cryptocurrency. Members of Congress are holding talks regarding the matter and discussing the introduction of a law that would prohibit Mark Zuckerberg from continuing his project. Each of these situations has an impact on the perception of cryptocurrencies in the world, and many investors are certainly selling their resources.


Comments