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NewsBTC 2022-09-29 09:39:10

Bitcoin Notches Highest Trading Volume In Over 3 Months, Binance Data Shows

Bitcoin (BTC) trading volume is on the rise, as the cryptocurrency market shows some signs of improvement. As of this writing, BTC is trading at $19,326, up 3.2 percent in the last 24 hours, data from Coingecko show, Thursday. Today is one of the busiest trading days for Bitcoin since mid-June. CryptoQuant attributes the recent surge in BTC trading volume to Binance. CoinGecko also reveals a dramatic increase in Bitcoin trade volume over the past three days. Total trade volume for the coin is $142.5 billion, a massive rise from $81.6 billion, or a 42.5% gain. However, recent charts reveal that the market is still prone to volatility, especially when it comes to the BTC/BUSD pair. Despite this possibility, Binance’s recent measures could aid Bitcoin and the broader cryptocurrency market in recovering from the recent massive liquidations. Bitcoin Whales In Aggressive Mode Binance made the decision to remove trading fees for a number of Bitcoin pairs on July 7. Included in this are trading pairs involving Bitcoin and their native stablecoin, the Bitcoin Dollar (BUSD). As a result, the amount of daily trades in BTC/BUSD spiked almost immediately. The current price of the pair is $19,369. There has been an increase in value due to BTC being purchased by “whales” using BUSD. Futures contracts on BTC/BUSD have likewise followed this pattern. As of today, the total number of BTC/BUSD transactions has reached 8.9 mill...

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