CDS Crypto News Bitcoin Trading Volume Hits Record High in 2024, Surpassing $2.874 Trillion
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Bitcoin Trading Volume Hits Record High in 2024, Surpassing $2.874 Trillion

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Bitcoin Trading Volume Hits Record High in 2024, Surpassing $2.874 Trillion

Bitcoin Trading Volume in 2024 Surpasses 2021 Bull Market Record

Bitcoin Trading Volume in 2024 Surpasses 2021 Bull Market Record

In the first eight months of 2024, the Bitcoin market experienced tremendous activity, surpassing the record notional trading volume observed during the 2021 bull market. According to Paris-based data source Kaiko, the total trading volume, or the dollar amount of all the Bitcoin that was purchased and sold on centralized exchanges, was $2.874 trillion in the first eight months. That represents the biggest amount since 2012 and is about 20% more than the $2.424 billion recorded in the first eight months of 2021.

The rise in crypto volatility has been accompanied by increased market participation, at least in the Bitcoin market,

Kaiko

April Sees Bitcoin Surge to $70K Amid Volatility Spike and Economic Concerns

Early in the month of last month, risk assets, including cryptocurrencies, became unstable due to worries about the US economy and the termination of the yen carry trade. Bitcoin’s 10-day realized or historical volatility increased to an annualized 100% in April, according to data from the charting platform TradingView, as the price of the cryptocurrency reached all-time highs above $70,000 due to significant inflows into U.S.-listed spot ETFs and anticipation for Fed rate reduction.

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Bitcoin Trading Volume Hits Record High in 2024, Surpassing $2.874 Trillion
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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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