Donald Trump's trade wars, protracted uncertainty over the expected UK exit from the EU (Brexit), and the looming threat of a global recession could be factors that in May revived activity in cryptocurrency markets, Bitcoinist writes. Against this background, traffic on the leading bitcoin exchanges , in particular, Binance and Coinbase, has noticeably increased.
So, according to SimilarWeb, Binance Cryptobirth , which is one of the thousand most visited sites in the world, was visited by 42 million people in May. At Coinbase, the largest US cryptocurrency exchange, the figure was 35 million.
The increased attendance in turn was converted into an inflow of funds for cryptobirds and an increase in trading volumes, which together amounted to about $ 5.9 billion last month.
Also last month, a 14-month high in trading volumes was recorded at Coinbase . The record day came on May 17, when transactions were concluded on more than 47,400 BTC (about $ 376 million) on the stock exchange.
Economic problems are pushing the growth of volumes of transactions with Bitcoin (BTC) almost all over the world, but this is clearly seen in the example of Latin America. Thus, according to LocalBitcoins, in recent weeks, significant growth was recorded in Chile, Colombia, Peru, Brazil and Argentina, and in Mexico, which was also threatened by a trade war with the US, due to the uncontrolled flow of immigrants, trading volumes reached a new record level.
Also, a steady growth in the volume of transactions on LocalBitcoins is observed in Argentina, but over the past few months, the absolute record for the number of bitcoins sold in one day belongs to Brazil – according to CointraderMonitor, on April 10, platform users in this country made deals for 100,000 BTC.
In addition, in the first half of May, its own record for daily trading volume — more than $ 10 billion — was updated by the BitMEX derivatives exchange BitMEX, and by the end of the month, the historical maximum for open contracts for Bitcoin futures was recorded at the Chicago Commodity Exchange (CME), which testifies to the growing interest of institutional investors.
Publication date 10.06.2019
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