Bitcoin Trading Volume Smashes $2 Trillion in 2018, Up 61% From Last Year
Data from Satoshi Capital Research show that Bitcoin, the dominant cryptocurrency, has secured a trading volume of $2.2tn in 2018, 61% more than last year.
Yet the growth of the trading volume in 2018 is still no match for 2017, when massive growth amounting to 96% occurred.
Atlanta-based Satoshi Capital serves as a quantitative investment fund company.
Satoshi Capital Research further explained the data on Twitter, stating “Derivatives certainly account for a meaningful percentage of total volumes. Although generally [they] account for less than 30% of [the] total volume, with the rest being spot volume.”
When asked how the calculation was done, the hedge fund further explained the difference between on-block transaction volume and off-block trading volume. “Transaction volume (value of STXOs) occurs on blocks using Bitcoin’s decentralized network. Trading volume occurs off blocks using centralized exchange platforms,” the company added.
As Cryptonews Hub previously reported, the prices of cryptocurrencies have plunged 80–95% from the beginning of the year. Token volumes have also taken a dive across major exchanges, with 60% of crypto assets trading at lower volumes than January.