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Big rise in crypto trading volume! In the cryptocurrency markets, the long-stagnant market came back to life after the recent hikes. There was a big increase in crypto trading volumes.
In particular, after the ETF news, Bitcoin’s rise to $35,000 sparked daily exchange volumes, reaching the highest levels since March according to data analysis platforms.
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According to data analysis platforms, the seven-day moving average of spot exchange volumes on the market’s leading platforms exceeded $24 billion as of October 26, reaching an unprecedented level since the end of March.
Investment is particularly focused on the Spot Bitcoin ETF decision and is waiting for approval from the SEC. The reason investors are waiting is that the industry’s leading analysts and personalities say that ETFs will be approved and that if approved, Bitcoin could rise up to $50,000.
According to indicators provided by data analysis platforms, this situation points to a level of volatility not seen since April. The cryptocurrency market is drawing more investor attention with high volumes in spot transactions and potential new product launches. These developments indicate that market volatility may increase.
In the past day, firstly $520 million and then $250 million USDT was transferred to the Binance exchange.
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