Binance hit $ 15 billion in volume during the Bitcoin pump, breaking its record
The Binance exchange has seen an all-time high in daily trading volume of more than $ 15 billion traded in the last 24 hours to April 29, 2020. The last time the exchange had seen volume at current levels was in January 2018.
According to CZ, CEO of Binance, the last time daily volume increased more than $ 11 billion was in January 2018, which was the peak of the famous crypto bubble of 2017. According to data from CoinMarketCap , Binance saw more than $ 12 billion of daily trading volume. The number consists of all the trading products Binance offers, led by Binance Futures. And they recorded more than $ 9 billion in volume in the last 24 hours.
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Binance dominates in full Bitcoin rise
The day before, on Wednesday, Bitcoin gained around $ 1.300 in price terms, starting the trading day at $ 7.700 and reaching $ 9.000 on some exchanges in the last few hours.
Binance's main traded asset as of yesterday, the BTC / USDT perpetual exchange contract, saw a massive volume of over $ 7 billion alone. The trading pair is currently up 14% on the day, with a open interest of $ 227 million. The second most traded pair is the spot BTC / USDT, with an estimated daily volume of $ 1.6 billion. The spot trading pair is followed by the ETH / USDT derivative. That posted 10% daily, contributing $ 780 million in trading volume during the last 24 hours.
Binance for most of April has seen a trading volume range between $ 2M and $ 5M per 24H period. Which makes the sudden spike in volume an unexpected spike, following Bitcoin's huge price surge towards $ 9K.
