What’s Next for Bitcoin?
But a recent change in the regulatory climate forced Binance to move US investors off its flagship platform and onto a new US-based exchange. Back in June, Binance revealed that it would soon be shuttering US investors from using its regular trading platform, known for its exotic list of altcoins, and onto a new US-based platform sans many of the altcoins that put the crypto poster child on the map.
The following panic in investors led to a mass exodus of altcoins, causing them to bleed out to new lows, while Bitcoin stole whatever interest was left in the crypto market. But Binance gave the platform a real run for their crypto crown, and even surpassed Coinbase to become the market leader.
However, Coinbase nearly squandered whatever advantage they may have had by raising fees for traders with the smallest amount of trading activity. The crypto community was furious and began clamoring for a Coinbase killer.
But rather than kill Coinbase, the best-case scenario is for the two platforms to continue on harmoniously, competing with one another in such a way that causes both to regularly be upping the ante when it comes to new features and new assets, which will only benefit the greater crypto community of investor and traders that use each exchange.
Get the Latest from CoinDesk
May saw a surge in traffic to some key cryptocurrency exchanges as Bitcoin trading volumes on Binance and Coinbase hit a month high. Most likely, U. As a result, website traffic on major exchanges, such as Binance and Coinbase, soared in May Bitcoin exchanges popularity continues to soar. For example, data from SimilarWeb shows that cryptocurrency exchange Binance, one of the top websites in the world, had over 42 million visits in May. Economic woes are pushing Bitcoin trading volumes, particularly across Latin America. Countries such as Chile, Colombia, Peru, Brazil, and Argentina, show strong volume surges during the last few weeks, according to data provided by LocalBitcoins.
Community Driven Crypto Exchange Thrives Post Crypto-Winter https://t.co/R0xITe27JI— XERA Exchange (@xeratech) October 19, 2019
Increased Competition Can Be Good For Crypto Investors
Bitcoin trading volume on the largest US-based cryptocurrency exchange, Coinbasehit the highest coinbaxe seen in 14 months in May. During the month of May, Coinbase facilitated the trade ofAdditionally, it also represents the sixth-most voluminous month for volmue trading on the exchange to date. Perhaps not surprisingly, the rise in volume was accompanied by a 60 percent price increase biycoin the cryptocurrency.
Now with the price of bitcoin trading roughly 60 percent lower than its all-time high at the time of writing, the total units traded in May coincidentally make up nearly 60 percent of the amount seen during the explosive trading month of December The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Golume Currency Group, which invests in cryptocurrencies and blockchain startups. Read more about Exchanges Bitcoin Markets Markets News. Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
Levine Bradley Keoun Dec 18, Year in Review
🎯 Bitcoin Cash - Coinbase Aftermath - 50 Billion Dollar Trading Volume! - trackmyurl.biz 🤑
Bakkt’s Trading Volume Explodes Alongside Bitcoin’s Rise
PREV: day trade bitcoin reddit