Data shows the Bitcoin spot trading volume has shot up recently, and has created a new high for the year 2022 so far.<\/p>\n
Bitcoin Spot Trading Volume Observes Sharp Uptrend<\/p>\n
As per the latest weekly report from Arcane Research<\/a>, the 7-day average BTC volume has now hit a new yearly high of around $11.4 billion.<\/p>\n The \u201cspot trading volume<\/a>\u201d is an indicator that measures the total amount of Bitcoin being transacted on spot exchanges on any given day.<\/p>\n When the value of this metric is high, it means a large number of coins are observing movement in the spot markets. Such a trend shows investors are active at the moment.<\/p>\n On the other hand, low values of the indicator suggest there isn\u2019t much activity happening on exchanges right now. This kind of trend may be a sign that investor interest around the crypto is low currently.<\/p>\n Now, here is a chart that shows the trend in the 7-day moving average Bitcoin spot trading volume over the past year:<\/p>\n\n The 7-day MA value of the metric seems to have sharply risen up in recent days | Source: Arcane Research’s The Weekly Update – Week 36, 2022<\/a><\/p>\n As you can see in the above graph, the Bitcoin spot trading volume has seen a sharp spike in its value recently.<\/p>\n The value of the indicator is now about $11.4 billion, the highest seen in not just this part of 2022 so far, but also in general over the last twelve months.<\/p>\n The chart also shows the individual contribution to the total daily spot volumes that\u2019s coming from the crypto exchange Binance<\/a>.<\/p>\n It looks like the exchange is seeing significantly more volume than the entire rest of the market combined, and has been doing so since a while. The reason behind this is the fee removal on certain BTC trading pairs that the platform employed a while back.<\/p>\n This encouraged traders who want to use high volume trading strategies to go to Binance, and hence the exchange\u2019s dominance jumped up.<\/p>\n After this latest surge, Binance\u2019s share of the 7-day average total daily Bitcoin spot trading volume has become around 87%.<\/p>\n BTC Price<\/p>\n At the time of writing, Bitcoin\u2019s price<\/a> floats around $20.3k, up 8% in the last seven days. Over the past month, the crypto has lost 17% in value.<\/p>\n The below chart shows the trend in the price of the coin over the last five days.<\/p>\n\n Looks like the value of the crypto has crashed down over the last couple of days | Source: BTCUSD on TradingView<\/a> <\/p>\n Data shows the Bitcoin spot trading volume has shot up recently, and has created a new high for the year 2022 so far.<\/p>\n Bitcoin Spot Trading Volume Observes Sharp Uptrend<\/p>\n As per the latest weekly report from Arcane Research<\/a>, the 7-day average BTC volume has now hit a new yearly high of around $11.4 billion.<\/p>\n The \u201cspot trading volume<\/a>\u201d is an indicator that measures the total amount of Bitcoin being transacted on spot exchanges on any given day.<\/p>\n When the value of this metric is high, it means a large number of coins are observing movement in the spot markets. Such a trend shows investors are active at the moment.<\/p>\n On the other hand, low values of the indicator suggest there isn\u2019t much activity happening on exchanges right now. This kind of trend may be a sign that investor interest around the crypto is low currently.<\/p>\n Now, here is a chart that shows the trend in the 7-day moving average Bitcoin spot trading volume over the past year:<\/p>\n The 7-day MA value of the metric seems to have sharply risen up in recent days | Source: Arcane Research’s The Weekly Update – Week 36, 2022<\/a><\/p>\n As you can see in the above graph, the Bitcoin spot trading volume has seen a sharp spike in its value recently.<\/p>\n The value of the indicator is now about $11.4 billion, the highest seen in not just this part of 2022 so far, but also in general over the last twelve months.<\/p>\n The chart also shows the individual contribution to the total daily spot volumes that\u2019s coming from the crypto exchange Binance<\/a>.<\/p>\n It looks like the exchange is seeing significantly more volume than the entire rest of the market combined, and has been doing so since a while. The reason behind this is the fee removal on certain BTC trading pairs that the platform employed a while back.<\/p>\n This encouraged traders who want to use high volume trading strategies to go to Binance, and hence the exchange\u2019s dominance jumped up.<\/p>\n After this latest surge, Binance\u2019s share of the 7-day average total daily Bitcoin spot trading volume has become around 87%.<\/p>\n BTC Price<\/p>\n
\nFeatured image from Andr\u00e9 Fran\u00e7ois McKenzie on Unsplash.com, charts from TradingView.com, Arcane Research<\/p>","protected":false},"excerpt":{"rendered":"