Crypto News – For the first time since November 2021, the daily trading volume on centralized cryptocurrency exchanges has increased.
Crypto Exchange Daily Volume Hits $100 Billion for the First Time in 3 Years
The Block’s Data Dashboard shows that as of March 6, the seven-day moving average of daily trading volume across a variety of centralized exchanges was $97.4 billion. From early February lows of about $24 billion, this represents an increase. In its history, daily trade volume has only exceeded this threshold for a little over two months, the majority of which occurred in the bull market of 2021, the year when Bitcoin initially reached its top at $69,000.
The monthly trading volume has been rising for the past few months, but the daily trading volume has climbed quickly over the past few days. For the first time since late 2022, monthly volume on exchanges surpassed $1 trillion in December 2023. Binance is where most trading occurs, with UpBit, OKX, and Coinbase following in size. Based on data from The Block, Binance has approximately a 43% market share among all exchanges.
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