Crypto speculation at its peak: $379 billion – A new record broken for exchanges!
Compulsive crypto-trading? – The year 2021 begins under the best omens for the cryptosphere, a real season of broken records. After Bitcoin’s new all-time high against the dollar, then its capitalization record even surpassing Visa, the entire crypto market is on fire.
The speculative madness of late 2017, from ancient history?
The crypto sector has been booming since the price of Bitcoin Victory (BTC) literally exploded its former record of 20,000 dollars. Yes, it has! Cryptos trading volumes have never been as high as they are today.
According to the crypto-media company The Block, the top 20 trading platforms saw no less than $379 billion in crypto-actives change hands in December 2020 alone.
The previous record, with $307 billion in exchange volumes, was thus far surpassed. It had been reached twice, in December 2017 and January 2018, at the height of the euphoria of the last bull market.
Cryptos trading venues continue to be dominated by the Binance platform, which alone accounts for nearly 58% market share (approximately $220 billion in December).
Another interesting fact shown in this graph is that January 2021 looks very promising. Indeed, in just 5 days, trading volumes have already reached $108.8 billion.
Will this first month of the year already see a new record replace the one just achieved? Be careful not to get too attached to the records in the cryptosphere in 2021, because they may fall in a domino effect!