Bitcoin Spot Trading Volume Soars To New 2022 Highs
2022年9月15日 - 4:00AM
NEWSBTC
Data shows the Bitcoin spot trading volume has shot up recently,
and has created a new high for the year 2022 so far. Bitcoin Spot
Trading Volume Observes Sharp Uptrend As per the latest weekly
report from Arcane Research, the 7-day average BTC volume has now
hit a new yearly high of around $11.4 billion. The “spot trading
volume” is an indicator that measures the total amount of Bitcoin
being transacted on spot exchanges on any given day. When the value
of this metric is high, it means a large number of coins are
observing movement in the spot markets. Such a trend shows
investors are active at the moment. Related Reading: Glassnode:
Bitcoin Is Yet To See This Historic Late-Bear Crossover On the
other hand, low values of the indicator suggest there isn’t much
activity happening on exchanges right now. This kind of trend may
be a sign that investor interest around the crypto is low
currently. Now, here is a chart that shows the trend in the 7-day
moving average Bitcoin spot trading volume over the past year: The
7-day MA value of the metric seems to have sharply risen up in
recent days | Source: Arcane Research's The Weekly Update - Week
36, 2022 As you can see in the above graph, the Bitcoin spot
trading volume has seen a sharp spike in its value recently. The
value of the indicator is now about $11.4 billion, the highest seen
in not just this part of 2022 so far, but also in general over the
last twelve months. The chart also shows the individual
contribution to the total daily spot volumes that’s coming from the
crypto exchange Binance. It looks like the exchange is seeing
significantly more volume than the entire rest of the market
combined, and has been doing so since a while. The reason behind
this is the fee removal on certain BTC trading pairs that the
platform employed a while back. Related Reading: Outstanding 35%
Price Surge For Uniglo (GLO), Whilst Top Cryptos Like Bitcoin (BTC)
And Stellar (XLM) Suffer From Losses This encouraged traders who
want to use high volume trading strategies to go to Binance, and
hence the exchange’s dominance jumped up. After this latest surge,
Binance’s share of the 7-day average total daily Bitcoin spot
trading volume has become around 87%. BTC Price At the time of
writing, Bitcoin’s price floats around $20.3k, up 8% in the last
seven days. Over the past month, the crypto has lost 17% in value.
The below chart shows the trend in the price of the coin over the
last five days. Looks like the value of the crypto has crashed down
over the last couple of days | Source: BTCUSD on TradingView
Featured image from André François McKenzie on Unsplash.com, charts
from TradingView.com, Arcane Research
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