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A report from CoincryptoUS Research says that the trading volume of the biggest cryptocurrency exchange in the world during the first three months of the year was about $5.5 billion.
This was an 8% increase in the trading volume recorded between Jan and March 2021 – around $5.09 trillion.
There was a big surge in the value of Binance.
There has been a big rise in the number of cryptocurrencies that Binance can support.
Those include ApeCoin (APE), which is set to be released in March 2022, as well as other cryptocurrencies like Bitcoin, Litecoin, and Ethereum. They're all set to be traded against the US dollar and British pounds.
Four times as many people trade on Binance's exchange on a typical day than on its closest competitor.
The first quarters of 2021 and 2022 are a good time to look at the monthly trading volumes of investors. This will help us understand how investors trade.
It was about $1.42 trillion worth of trades in January 2021, with a single-day high of $86.81 billion. People were trading about $1.93 trillion in January 2022. On one day, that figure rose to $106.55 billion, which was a record high.
This is how it looked in February 2021: The trading volume was in the range of $1.82 trillion, with a single-day record high of $12.62 billion. A single-day high of $127.92 billion was in February 2022.
It reached $1.85 trillion in March 2021, with a single-day high of $77.92 billion in March of that same year. It reached a single-day high of $96.47 billion in March 2022. By then, it was about $1.90 trillion.
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