Binance Hits $12 Billion In Bitcoin And Crypto Trading Volume
The past two days marked the biggest Bitcoin bull run from 2020 so far, and this exciting move took BTC up by about 22%, boosting the price of the king coin close to $9,500.
On the other hand, OTC desks have witnessed massive sell-offs between $9,000 and $9,400.
Now, the crypto market looks bloody with all the coins trading in the red. At the moment of writing this article, BTC is also trading in the red, and the most important digital asset is currently priced at $8,786.61.
Despite the crypto market fall from back in March when BTC hit below $4,000, people continue to see the king coin as a flight to safety, and they continue to accumulate ahead of the halving, which is scheduled to take place on May 12th.
Earlier today, we revealed that whales continue to accumulate ETH as well, not only BTC.
Binance breaks the $12 million level in daily trading volume
The other day, Binance broke the $12 million level in daily trading volume in a 24-hour period – this is a new record for the crypto exchange.
Changpeng Zhao said that the company reached its prior all-time high around the peak of the parabolic crypto bull run in 2017.
Back then. Binance did not offer derivatives trading at that point, but now its futures platform maintains 25% of all crypto futures volume.
Last time we seen $11b was in Jan 2018, if memory serves me correctly.
We have seen ATH in trader numbers for a while, but volume wise, today is a new record.
— CZ Binance 🔶🔶🔶 (@cz_binance) April 29, 2020
CZ also said that Binance’s operations in China were hit with a denial-of-service attack this Wednesday.
Coinbase also experienced some issues, but the exchange made sure to identify and fix the problems.
Stay tuned for more exciting price moves in the crypto market as the much-awaited halving event is approaching.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.