Cryptocurrency Exchanges Record Trading Volume

Sharp changes in the Bitcoin price in March helped several major cryptocurrency exchanges reach record highs.trading volume indicators and capitalize on increasing volatility in the exchange rate. About this company CryptoCompare writes in its new report.

According to her, on March 13, cryptocurrency exchangesrecorded a record trading volume for its entire existence on the spot market at $ 75.9 billion. Leading exchanges such as Binance and BitMEX accounted for 28.5% of the total or $ 21.6 billion.

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Bitfinex Exchange Attracted Highest Trading Volumein the first four hours of the market crash. Within 20 minutes on March 12, it accounted for 40% of the trading volume of all major cryptocurrency exchanges, and in one minute the turnover on it amounted to $ 11.8 million.

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Binance became the most successful of the leading exchanges in terms of trading volume for the whole month, having conducted transactions of $ 63.6 billion. The growth compared to the previous month was 19.2%.

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In addition, increased volatility in Marchhad a positive impact on crypto derivatives trading. The amount of derivatives transactions on platforms such as Binance, Huobi, OKEx, BitMEX amounted to $600 billion. This is another record.

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At the same time, interest fellinstitutional investors to derivative products. The Chicago Mercantile Exchange (CME), for example, lost 44% of its trading volume compared with February. Turnover in March amounted to $ 7.36 billion against $ 13.1 billion in February.

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