Trading volume grows on exchanges

By Mickael Pasquier | Mickael Pasquier | 30 Jul 2020

Following the jump to five figures, BTC saw a sharp increase in its trading volumes and interest worldwide

The commercial activity of the main exchanges increased considerably in the last hours after BTC's jump over 10K . The cryptocurrency is going through a major rally that at the close of Monday brought its price even above USD 11,000.

The breakdown of the main cryptocurrency by listing and market capitalization was accompanied by a massive increase in the volumes of trade on the blockchain. According to specialists , unlike movements in trading volumes, these types of trends legitimize price momentum.

Yesterday, the trade volume reached 32,500 million dollars . Although today there is a slight reduction towards 31.800 million, the comparative levels with the rest of the month are incredible; In most of July, trade volume wavered between $ 10 billion and $ 15 billion. In any case, the experts point out that the current increase has not yet reached that of May.


On the other hand, according to blockchain analytics firm Chainalysis, yesterday's price rise led to a steep rise in BTC to exchanges. A jump from 68,970 to 130,000 BTC marked the biggest daily increase in more than 130 days .

With BTC reaching its annual maximum, the expectations that placed the cryptocurrency on a horizon close to USD 12,000 a few weeks ago, today have the illusion of seeing a new historical maximum before the end of the year.

As expected, the strong shock of the crypto market was reflected in the main internet search engines. According to Google Trends data, searches for “Bitcoin” tripled globally in the last three days alone. The countries most interested in cryptocurrency, in addition, are in Africa, confirming the trend indicated by the firm in a report in mid-June .

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Mickael Pasquier
Mickael Pasquier

Interested in the field of cryptocurrency and blockchain

Mickael Pasquier
Mickael Pasquier

Only Crypto

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