Top-Tier Crypto Exchanges Experience Historic Volume Ahead of Bitcoin's Halving

  • A new report by CryptoCompare shows top-tier cryptocurrency exchanges experienced a historic day of trading on April 30th after BTC fell below $9k.
  •  Binance recorded more than $15 million in trades in the span of minutes, accounting for more approximately 50% of all trading volume. 

April saw historic volumes for top-tier cryptocurrency exchanges ahead of May 12’s bitcoin halving. 

According to a new report compiled by CryptoCompare analysts, volume trading on top-tier cryptocurrency exchanges increased last month, with a surge occurring on April 30 in response to bitcoin’s sudden dip below $9,000. 

cryptocompare exchange reviewSource: CryptoCompare April 2020 Exchange Review

Binance recorded more than $15 million in trades in the span of minutes on the morning of April 30, as the price of BTC briefly dipped. Other top-tier cryptocurrency exchanges also experienced a surge in volume, with Bitfinex recording $6.1 million in trades, OKEx $3.2 million and Gemini $2.5 million. 

The report reads, 

As Bitcoin dipped below $9,000 on the morning of the 30th of April, Binance represented the majority of trading volume (BTC/USDT market), trading a total of $15mn at 11am BST. At this moment, it represented approximately 50% of trading volume among 7 of the largest top-tier exchanges.

Total spot volume trading on April 30 reached $66.2, second all-time behind March 13th’s crypto market crash which generated $75.9 billion. Top-tier cryptocurrency exchanges, it's worth noting, are those with high ratings according to CryptoCompare's Exchange Benchmark

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