Data shows the Bitcoin spot trading volumes have sharply risen alongside the rally, a sign that this momentum might be sustainable.
Bitcoin 7-Day Average Trading Volume Shows Rapid Uptrend
Pagal naujausią savaitės ataskaitą nuo „Arcane“ tyrimai, the current trading volume highs haven’t been observed since the collapse of the crypto exchange FTX back in November of last year. The “dienos prekybos apimties“ yra rodiklis, matuojantis bendrą Bitcoin sumą, kurią bet kurią dieną sudaro sandoriai „Bitwise 10“ biržose.
While the metric may only account for volumes on the Bitwise 10 exchanges, the activity measured by it still provides a decent idea about the trend being followed by the wider spot market.
When the value of this indicator rises, it means a large number of coins are being transacted on the spot market right now. Such a trend suggests traders are active currently.
On the other hand, low values imply the BTC market isn’t seeing much activity at the moment. This trend can mean the general interest in the cryptocurrency among investors is low currently.
Dabar čia yra diagrama, rodanti 7 dienų vidutinės dienos Bitcoin prekybos apimties tendencijas per pastaruosius metus:
Panašu, kad pastarosiomis dienomis metrikos vertė pakilo | Šaltinis: Arcane Research's Ahead of the Curve – sausio 17 d
As displayed in the above graph, the Bitcoin daily trading volume has observed some rapid rise in the last week or so, as the BTC price has rallied. The 7-day average value of the indicator has now hit $10.8 billion, a high that hasn’t been seen since the FTX crash.
In total, the surge in the metric’s value has amounted to 114% over the past week, a very significant uplift. From the chart, it’s apparent that Binansas still accounts for the vast majority of the activity, as its trading volume currently stands at $9.8 billion. The crypto exchange first started dominating the market in terms of volume back when the platform removed fees on its Bitcoin trading pairs.
The rest of the exchanges are seeing very little volume recently, which led to low revenues for many of them and caused them to go through new rounds of restructuring. The most notable example would be Coinbase, which had to cut 1,000 of its staff just a few days back.
With this latest rise in market activity, however, the collective volume of exchanges other than Binance has surged to about $1 billion, something that these platforms would probably find encouraging amid these times.
The fact that these high trading volumes have come alongside the Bitcoin rally could be a positive sign for it. As in the past, all significant price moves have usually been accompanied by a surge in activity.
The reason behind this is that rallies like these require a large number of traders to keep the fuel going. As the current rally is enjoying large trading volumes, it could be sustainable for a while still.
BTC kaina
Rašymo metu „Bitcoin“ prekiauja apie 21,200 22 USD, ty XNUMX% daugiau nei praėjusią savaitę.
BTC seems to have stagnated over the last few days | Source: BTCUSD „TradingView“
Featured image from Hans Eiskonen on Unsplash.com, charts from TradingView.com, Arcane Research
Source: https://bitcoinist.com/bitcoin-rally-sustainable-rising-trading-volumes/