New post
George Ma
April 5 14:57

Cryptocompare: March bitcoin crash was accompanied by record trading volumes

The record was recorded on Friday, March 13.
During the March collapse of the bitcoin and the rest of the cryptocurrency market (March 12-13), daily trading volumes on the stock exchanges reached record values in the history of the industry. 
The record was recorded on Friday, March 13, when the figure was US$75.9 billion, according to the latest report of Cryptocompare analytical service.

Curiously, most of this amount (US$54.3 billion, or 71.5%) came from the lower class exchanges. For platforms representing at higher level these figures amounted to US$21.6 billion, or 28.5%.
The latest figures, Cryptocompare notes, although not record highs, are comparable with those of July and December 2017.
At the same time, in March the trading volumes at higher class exchanges increased by 8% (US$288 billion) compared to February, while at lower class exchanges this figure fell by 7.9% to US$1.02 trillion.
Since December 2019, trading volumes at the higher level exchanges have been steadily growing. For many major stock exchanges, the average growth in March was 35%. According to the chart below, the three leaders are Binance (US$63.6 billion / +19.2%), OKEx (US$47.7 billion / +8.2%) and Coinbase (US$13.3 billion / +41.9%).
However, if we return to the collapse last month that started on March 12, Bitfinex was the leader in terms of trading volumes on BTC/USD and BTC/USDT markets, followed by Coinbase, OKEx and Bitstamp.
Thus, only in the first hour of the collapse Bitfinex had 40% of the trading volume of all the leading exchanges, and on average for a minute there were transactions for US$11.8 million.