Binance Trading Volume Reaches All-Time High Amid Bitcoin’s Price Surge
As the Bitcoin price skyrocketed close to $9000 on April 29, Changpeng Zhao, or CZ, announced that Binance, the world’s largest crypto exchange, has hit $11 billion in trading volume over the past 24 hours. This number is considered an all-time high for the exchange. According to CZ’s post, the last time the exchange came near $11 billion was in early 2018. Today they reached a new record in terms of trading volume. Crypto community is bullish Crypto traders responded positively about the exchange’s ATH volume. Some believe that the trading volume will increase even more in the days to come. Other major exchanges were reportedly having issues handling the high trading volumes during the Bitcoim pump. Some members of the crypto community have praised Binance for operating without any such problems. Bitcoin’s halving is happening in less than two weeks. As Cointelegraph reported earlier today, the media buzz around the halving event has grabbed people’s attention globally. All major trends surrounding Bitcoin’s price appear to be positive.
A week of shock, on-chain transaction volume soared, Binance Bitcoin inflows surged 164%
From the data of the past week (03.09-03.15), with the sudden and sharp drop in the price of Bitcoin on March 12, compared with the previous week (03.02-03.08), the data on the chain has risen sharply. The main transaction volume is concentrated on Thursday On Friday, as the price of Bitcoin fluctuated gradually from $ 5,000 to $ 5,500, the activity of data on the chain also dropped significantly. Transaction amount: 03.02-03.08: 5587116.39 BTC 03.09-03.15: 10626347.83 BTC Increase from the previous week: 90.19% The detailed data chart is as follows: Actual transaction amount: 03.02-03.08: 3835451.42 BTC 03.09-03.15: 6772827.74 BTC Increase from the previous week: 76.58% Number of transactions: 03.02-03.08: 2350652 03.09-03.15: 2121416 Decrease from the previous week: 9.75% The decline from this data also reflects the relatively large amount of transactions that drove the transaction amount during the slump in the currency price, which may be direct large transfers between addresses, or it may be that more transactions were collected under the active state of the exchange Large transfers. Number of active addresses: (The address that initiated the transaction is considered the active address) 03.02-03.08: 3686153 03.09-03.15: 3583417 Decrease from the previous week: 2.79% From this data's turn to decline, it can also be seen that when the currency price is volatile, active addresses such as exchanges are the focus of the market and the core of the on-chain transaction pooling. Large transfers: (Single transaction initiated amount greater than 100BTC is considered a large amount transfer) 03.02-03.08: 6501 03.09-03.15: 14827 Increase from the previous week: 128.07% This data validates the above judgment. The number of large transfers rose rapidly after the currency price dived, setting the largest single-day large-value transaction record since November 22 last year. Binance exchange BTC flow data Inflow: 03.02-03.08: 49947.69 03.09-03.15: 132045 Increase from the previous week: 164.37% Outflow: 03.02-03.08: 48823.84 03.09-03.15: 135022.51 Increase from the previous week: 176.55% The detailed data chart is as follows: Net inflow: 03.02-03.08: 1623.85 03.09-03.15: -2977.51 Decrease from the previous week: 283.36% Binance's data once again reflects the core position of the exchange address on the chain. With the sharp fluctuations in the price of bitcoin, more bitcoin moves in and out of the exchange, which also causes a large amount of bitcoin inflow and outflow rise.
Altcoins continue to inch closer to a complete recovery after Black Thursday last month wiped out most of their gains in 2020. In the footsteps of the world’s largest cryptocurrency, Bitcoin, altcoins such as Litecoin, Binance Coin, and Verge have all recorded double-digit gains over the past 48 hours. Litecoin [LTC] For the world’s seventh-largest […] Bitcoin Ethereum Ripple Bitcoin Cash Chainlink Binance Coin Litecoin Cardano Bitcoin SV EOS Monero Tron Stellar Lumens Crypto.com Coin Tezos UNUS SED LEO NEO NEM Cosmos Iota VeChain Dash THETA ZCash Ethereum Classic Maker Ontology Waves Dogecoin FTX Token Algorand Basic Attention Token HedgeTrade BitTorrent DigiByte 0x Ren Zilliqa Qtum Icon ... News That Could Be Fueling Bitcoin's Surge Facebook is expected to unveil its own cryptocurrency this week. Binance Coin, the largest crypto by trading volume, barred U.S. users. Crypto Volumes Surge in August: Binance Largest Spot Exchange as Huobi Leads Derivatives $700 Million Worth of Synthetic Bitcoin Is Circulating on the Ethereum Blockchain Bitcoin stays around $10,750, while Binance Coin continues to surge with another 5%. On a weekly scale, BNB is up by about 20%. After marking another price increase from $10,640 to $10,860, Bitcoin has slowed down around $10,750. Most larger-cap alts have remained relatively calm on a 24-hour scale. Binance Coin is once again the exception and BNB nears $30. Bitcoin Trades Around $10,750. As ... Binance coin price started a downside correction from well above $15.00 against the USDT. BNB price is now approaching a strong buy zone, which is likely to stage another rally. Binance coin price is trading below the $15.00 and $14.80 pivot levels against the USDT. Bitcoin started a major downside correction and declined below $8,000. Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume ... If – like Bitcoin has followed gold – altcoins continue to follow silver, an explosive surge is just around the corner. Fractal Foretells Explosive Breakout in Altcoins Based on Early Days of Bitcoin. According to a fractal discovered by one crypto analyst ... Bitcoin has seen immense volatility over recent days. The coin currently trades for $13,800, above the $13,200 lows on Monday but below the daily highs at $14,100 and the weekend highs at that same level. Bitcoin is currently up around 1.5% in the past 24 hours. Some analysts think that the coin is ... Bitcoin (BTC) Could Surge To $3 Million In 5 Years. Published. November 3, 2020. Author . Andreas Townsend . There have been all kinds of predictions about the price of Bitcoin these days. The optimistic ones seem to be intensifying especially after the king coin was able to hit $14k a few days ago for the first time since back in January 2018. Morgan Creek Digital Assets co-founder and ... Binance Coin, the cryptocurrency of one of the word’s largest crypto-exchanges, Binance, now finds itself amongst the top-10 cryptos, according to market cap. In the past 24 hours alone, the coin managed to surge by close to 4 percent. At press time, BNB was being traded at $12.8 and since the start of the week, saw its price rise by over 15 percent.
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