Main navigation

Cryptocurrency Trading Volumes Exceed $12 Trillion Public Trading Equities Market

News
Wed, 08/11/2021 - 09:20
article image
Arman Shirinyan
Trading volume on cryptocurrency exchange has exceeded the trading volume of the biggest public equities
Cryptocurrency Trading Volumes Exceed $12 Trillion Public Trading Equities Market
Cover image via stock.adobe.com
Read U.TODAY on
Google News

According to the latest tweet by Ark Investment Management analyst Yassine Elmandjra, cryptocurrency trading volumes have exceeded the largest public equities markets with more than $16 trillion in funds that are being moved on the market every day.

According to the tweet, FAANG (Facebook, Apple, Amazon, Netflix and Google), annual trading volume stands at $12 trillion, while cryptocurrency exchanges have generated more than $16 trillion transaction volume in the years 2020 and 2021.

Related
Nasdaq-Traded Metromile Car Insurer Buys $1 Million in Bitcoin, Reports This to SEC

In 2021, the crypto market has received an explosive increase in trading volume, with Coinbase's volume in this quarter alone exceeding the entire spot market trading volume for the same quarter last year. Coinbase's Q2, 2021, trading volume stands at $460 billion.

Most likely, the rapid growth of the cryptocurrency market is linked to the 260 percent Bitcoin bullrun that started in October-December of 2020 and concluded in April-May with a 55 percent retrace on the lowest points.

In addition to a large inflow of funds from private investors, institutions like Ark Investment have also joined the cryptocurrency market bullrun with additional investments that may be causing the Bitcoin price increase by an additional 55 percent after testing the $29,000 support zone.

article image
About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.