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TL;DR
In March, the sum of money traded forwards and backwards on centralized crypto exchanges was simply shy of $2.5T, reflecting elevated curiosity within the crypto market.
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Test the date.
It’s April 4th (or fifth relying in your time zone).
Level is: what we’re about to inform you — and we can not stress this sufficient — will not be an April Fools joke…
In March, the sum of money traded forwards and backwards on centralized crypto exchanges was simply shy of $2.5 Trillion (with a T).
(Straight up doubling February’s whole buying and selling quantity).
“Okay, sounds spectacular at first look…however what does it really imply for the crypto market?”
Good query. We do not know.
Kidding! (Might you think about?)
Excessive buying and selling quantity, whether or not it’s pushing costs up or down, is an effective signal for the crypto market — as a result of:
On a distinct segment/native stage: it means centralized exchanges, like Coinbase, are going to be eatin’ good this month! (Their cash is made largely by transaction charges).
Coinbase is a publicly traded firm, and are resulting from report their earnings subsequent month. The potential headline of “all time excessive charge income” will mirror positively on the crypto trade.
On a broader scale: Excessive buying and selling quantity causes volatility — which merchants can make cash on, each on the way in which up, and the way in which down.
(And if there’s cash to be made in a brand new expertise, it’s certain to draw new customers).
On a good broader scale: Typically, it signifies elevated curiosity within the crypto house.
All in all, nice information for the Web3 & crypto house!
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