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Home NEWS NEWS BITCOIN The daily trading volume on the Binance exchange reaches a high ...

Daily trading volume on Binance hit record highs as the cryptocurrency market soars

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Daily trading volume on Binance hit record highs as the cryptocurrency market soars

Binance has reported a new record as daily trading volume is over $ 80 billion on spot and derivatives platforms.

Changpeng Zhao - the chief executive of Binance, the world's largest cryptocurrency exchange by trading volume - reported a record in daily trading volume of up to $ 80 billion on Jan. 4.

On Twitter, CZ compared this activity to the volume seen in the most recent record bull run, noting that the last trading day was equivalent to four times the volume processed on the swoop from the 15th. / 11/2017 to December 15, 12.

In the 24 hours prior to CZ's tweet, Binance's spot volume exceeded $ 23.6 billion, while the exchange's derivatives platform accounted for nearly $ 57 billion in trading.

Given this pivotal milestone, CZ admits the foundation has experienced a few disruptions brought on by record volume, stating:

We have seen some scale issues today. We will likely see more problems as we continue to develop. We're not perfect, but we'll fix them as quickly as possible

Besides the above record, January 4 also saw Binance process up to 1 million USD in BTC in just 190 minutes, as the asset dropped dramatically to below 10 USD.

On the same day, Sam Bankman-Fried - CEO and founder of derivative crypto exchange FTX - reported that his exchange handled over $ 10 billion out of $ 180 billion coming from five exchanges. the biggest transaction that day.

Record volume of Binance appears when Bitcoin consolidating above $ 30.000 after rising more than 50% from its previous all-time high, and Ethereum has regained its four-digit price tag for the first time since January 1.

The profits of this bullrun appear to be flowing into the DeFi sector, with the total value of locked USD (or TVL) on decentralized financial protocols breaking records, from $ 12.5 billion in early December to nearly 12 billion USD.

However, the amount of BTC locked in DeFi has fallen from an all-time high of 65.000 BTC in late October to below 10 today, while the amount of ETH locked has also dropped from almost 25.000 million ETH in the middle November down to 9 million today.


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