In April 2021, trading volume on leading spot cryptocurrency exchanges for the first time surpassed $2 trillion.
In March the figure stood at $1.32 trillion.
Across platforms, Asian venues remain the undisputed leaders. Binance logged the indicator at $1.18 trillion versus $757 billion in March. Trading volume on Huobi amounted to $288 billion ($210 billion), OKEx — $283 billion ($173 billion).
The American exchange Coinbase accounted for $99.7 billion, up from $87 billion the previous month.
On 13 April, the price of Bitcoin hit a new all-time high above $64 000. In the following two weeks, the rally gave way to a deep correction below $50 000, which led to record liquidations on the futures market.
Ahead of the expiry of contracts on the futures market, Bitcoin’s price rose sharply above $57 000.
The price of Ethereum in April rose by more than 40%. By Monday, 3 May, quotes surpassed $3000.
JPMorgan cited reasons for the outperformance of the second-largest cryptocurrency in returns over Bitcoin.
Subscribe to ForkLog news on Facebook!