According to crypto data research provider kaikoBitcoin’s rise to all-time highs has led it to a major milestone in its trading volume, which has reached its highest level since 2021.
According to crypto data research provider kaikoBitcoin’s rise to all-time highs has led it to a major milestone in its trading volume, which has reached its highest level since 2021.
According to Kaiko, Bitcoin trading volume surpassed $46 billion on March 5, its highest level since 2021.
wu blockchainCiting data from Kaiko, it offers a breakdown of this milestone: The overall BTC spot trading volume across all centralized exchanges (CEX) surpassed $46.25 billion on March 5, its highest level since 2021.
Binance led the way with $23.84 billion in volume, followed by Coinbase with $4.83 billion, Bybit with $4.29 billion, OKX with $3.53 billion, KuCoin with $1.49 billion, Upbit with $1.36 billion, and Kraken. with 1,210 million dollars.
Last week, BTC funding rates hit their highest levels since the ETFs launched in early January, indicating increased demand for bullish leverage.
Bitcoin sets new ATH
Bitcoin hit an all-time high on multiple exchanges for the first time in more than two years, reaching $69,210 on Coinbase.
On Tuesday, the price of Bitcoin surpassed $69,000 before falling sharply. Losses intensified before the price began to recover, with BTC last trading down 0.68% at $66,736.
Bitcoin set its previous high of $68,982.20 on November 10, 2021, about a year before the devastating FTX collapse hit the cryptocurrency market in what some call the Lehman Brothers moment of cryptocurrencies.
Bitcoin’s rise to an all-time high on Tuesday was part of a broader rally in 2024, with other cryptocurrencies and financial vehicles linked to Bitcoin rising alongside it.
Catalysts driving the cryptocurrency boom include the US spot bitcoin ETFs that began trading earlier this year and expectations regarding the April “halving event.”
Despite the rapid pullback seen subsequently, the new record is still a triumph for the crypto industry as a whole.
