Trade Volume Of Bitcoin Reaches 14-Month Peak On Coinbase In May
According to recent reports, Bitcoin had quite a great run in the previous month. As per the data, the number one digital currency registered the highest trading volume, reaching a 14-month peak, on Coinbase in May.
Coinbase, the biggest digital currency exchange based in the US, witnessed 738,959.42 bitcoins being traded on its platform through the last month. Looking at the present market prices, its value can be anywhere around 5.9 billion dollars, as per the data released by Bitcoinity.
What’s interesting is, its first time that the crypto exchange has registered the highest trading volume for bitcoin since March 2018. Apart from that, May of 2019 also became the 6th most sizeable month for the trading of the BTC on the crypto exchange till the date. The increase in the trade volume, undoubtedly, brought an increase in the prices of bitcoin by 60 percent.
As Per data, Coinbase recorded the highest number of bitcoin trades in 2017’s December month. At the time, the crypto had reached the price of 19,891 dollars while the exchange noted trades of 1,275,295.522 bitcoins.
While writing this, BTC was being traded at 8,026.45 dollars. Incidentally, the sum of units that were traded in the month of May makes up about 60% of the figures seen through the period of 2017’s December.