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Sunday, February 25, 2024
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    bitcoin
    Bitcoin (BTC) $ 51,651.84
    ethereum
    Ethereum (ETH) $ 3,031.36
    tether
    Tether (USDT) $ 1.00
    bnb
    BNB (BNB) $ 382.63
    usd-coin
    USDC (USDC) $ 1.00
    xrp
    XRP (XRP) $ 0.545141
    binance-usd
    BUSD (BUSD) $ 1.00
    dogecoin
    Dogecoin (DOGE) $ 0.086144
    cardano
    Cardano (ADA) $ 0.590012
    solana
    Solana (SOL) $ 102.68
    matic-network
    Polygon (MATIC) $ 0.973105
    polkadot
    Polkadot (DOT) $ 7.73
    tron
    TRON (TRX) $ 0.137551

    Crypto trade quantity cracks $1 trillion for first time since late 2022

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    Month-to-month cryptocurrency trade buying and selling quantity surpassed $1 trillion in December, a threshold that exchanges had didn’t surpass in over a 12 months.

    December was a giant month for crypto buying and selling, with trade quantity totaling $1.1 trillion, The Block’s Knowledge Dashboard exhibits. The final time month-to-month buying and selling quantity for crypto exchanges crossed that mark got here in September 2022 when quantity registered a complete of $1.03 trillion, the information additionally exhibits.

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    The rise in buying and selling quantity throughout exchanges seen over the last month of 2023 additionally set the best month-to-month mark since buying and selling quantity hit $1.35 trillion in Might 2022.

    Amongst rival exchanges, Binance led the way in which in December, comprising 39.3% of the month’s quantity with a complete of $432.7 billion in buying and selling quantity, adopted by Upbit with 8.3%, or $91.8 billion, after which OKX with 8%, or $87.5 billion.

    ETF optimism

    December’s spike in exercise is probably going as a result of crypto business’s enthusiasm that spot bitcoin ETFs will achieve approval, stated The Block’s Director of Analysis Steven Zheng.

    “Given the vacation season, December is traditionally a sluggish month for buying and selling in crypto,” Zheng stated. “The truth that month-to-month spot volumes cracked $1 trillion for the primary time in over a 12 months actually speaks to the optimism the business has on the forthcoming spot bitcoin ETF approval and rebirth of a bull market.”

    As merchants anticipate the approval of spot bitcoin ETFs, Bitcoin additionally rallied over the weekend, surging by 5.8% to over $45,000. The world’s largest cryptocurrency by market capitalization traded at $45,260 as of 11:05 a.m. EST, in accordance with The Block’s Worth Web page for Bitcoin.

    See also  Binance Futures Proclaims Itemizing of This Altcoin with 50x Leverage!

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