Bitcoin Trading Volume Growth Continues – Coin Metrics New Report

At the moment of writing this article, Bitcoin is trading in the green, and the most important coin tiny he crypto market is priced at $9,703.61.

Coin Metrics said that if the past is a sort of prologue, it will not be too long until Bitcoin’s yarding volume matches other major asset classes.

Comparing Bitcoin’s trading volume to US equities, bonds, and global FX markets

In a new report, the crypto analytics company is comparing BTC’s current trading volume to the US equities, bonds, and global FX markers.

Bitcoin’s daily spot market volume is $4.1 billion and by comparison, “the daily volume of the US equity spot market is $446 billion, $893 billion for the US bond spot market and $1.98 trillion for the global foreign exchange spot market,” as reported by the online publication the Daily Hodl.

Looking at these numbers, Coin Metrics said that BTC has more room to grow and it’s more comparable to the one of a large capitalization stock.

“If historical growth rates can be maintained, however, Bitcoin’s current daily volume from spot markets of $4.3 billion would need fewer than 4 years of growth to exceed daily volume of all U.S. equities. Fewer than 5 years of growth are needed to exceed daily volume of all U.S. bonds,” according to the report.

https   bucketeer e05bbc84 baa3 437e 9518 adb32be77984.s3.amazonaws.com public images b60e3e26 b6e1 4e8d 9407 d21682974972 960x576 - Bitcoin Trading Volume Growth Continues - Coin Metrics New Report

Market conditions are favorable to Bitcoin

The same report also highlights the fact that the market conditions are favorable to Bitcoin these days:

“On the margin, the policy response to the coronavirus, the protest-related civil unrest in the United States, and the potential for a re-escalation of the trade war between the United States and China should be supportive for store-of-value assets such as Bitcoin.”

123 - Bitcoin Trading Volume Growth Continues - Coin Metrics New Report

More than that, the same report also makes sure to point out the high level of correlation between gold and Bitcoin.

We recommend that you check out the complete Coin Metrics report in order to find out all the details.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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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.

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