Bitcoin trade volume on Coinbase hit a 14 – month high in May.
The largest US-based cryptocurrency exchange, Coinbase, has seen Bitcoin trading volume rose to the highest amount seen in 14 months in May.
According to data from Bitcoinity, which stated that during the month of May, Coinbase pushed the trade of 738,959.42 BTC which worth approximately $5.9 billion at current market prices.
Heralding a new development which marks the exchange’s highest level of bitcoin trade volume since March of 2018.
Further more, it also represents the sixth-most voluminous month for bitcoin trading on the exchange to date, it was like a boom for the exchange company. Perhaps not surprisingly, the rise in volume was as a result of a 60 percent price increase experienced by the cryptocurrency itself.
Bitcoin Trade Volume on Coinbase (Monthly)
Meanwhile, December of 2017 was the most bitcoin ever traded in a month on Coinbase which was when the cryptocurrency’s reached as high as $19,891 and 1,275,295.522 BTC traded hands on the exchange platform.
Presently, looking at the price of bitcoin trading approximately 60 percent lower than its all-time high at the time of writing, coincidentally, the total units traded in May make up nearly 60 percent of the amount seen during the explosive trading month of December 2017.
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Credits: Sam ouimetJOIN OUR COMMUNITY