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Author Topic: [2018/07/07]Trading volumes of Binance and Huobi bounce up by over 100%  (Read 24 times)
vit05
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July 07, 2018, 02:11:52 AM
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BcFocus.com

Major crypto exchanges Binance and Huobi showed triple-digit increase in trading volume in ten days. According to statistics shared by Crypto India mentioning the source as CoinMarketCap, the world’s leading crypto exchange, Binance’s trading jumped by 130% over the period. Meanwhile, Huobi increased by 104%. The same source mentions that the trading volume of Bithumb increased by over 230%.

See also: Binance suspends trading, withdrawals and other account functions

The massive increase in trading volume was noted on the day the overall signs of recovered was noticed on the crypto exchanges. It is evident with Binance’s BTC/USDT trading pair currently shows an increase of 17.75 % in volume, OKEx took the second place. According to the website ICOExaminer, crypto market analyst, Ali Yazbek said, “July is traditionally a strong trading month for crypto-currency trading…And there appears to be signs now – although it is still too early to make the call – that we are seeing a similar trend for the coming summer.”

In other news, Binance has listed DENT as their latest token on the exchange. Their blog mentions that from now onwards, deposits are open and one can start trading with BTC/DENT and ETH/DENT trading pairs. DENT is currently trading at $.0050 which is up 44.15% in the last 24 hours, which is known as the Binance Effect.

See also: Huobi completes Tron MainNet, withdrawal disabled, deposit to be available soon

Meanwhile, the Chinese cryptocurrency exchange Huobi, which is currently at number 3 has confirmed trading on its new Australian platform. It began from July 5. Houbi which has $713 million in daily trade volume trading pairs phased throughout Thursday from 10 am Sydney time. The exchange mentioned that ten pairs will initially be on offer for Australian dollar, including Bitcoin, Ethereum, Litecoin, Ethereum Classic and Bitcoin Cash. “In the future, Huobi Australia will open more trading pairs to all users,” the exchange mentioned while announcing.
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July 07, 2018, 04:58:55 AM
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The massive increase in trading volume was noted on the day the overall signs of recovered was noticed on the crypto exchanges. It is evident with Binance’s BTC/USDT trading pair currently shows an increase of 17.75 % in volume, OKEx took the second place. According to the website ICOExaminer, crypto market analyst, Ali Yazbek said, “July is traditionally a strong trading month for crypto-currency trading…And there appears to be signs now – although it is still too early to make the call – that we are seeing a similar trend for the coming summer.”

I hope so that this would be the case. Hoping that this would be the recovery that we are waiting for. We should not be too complacent though that this is the start of the bull run because anytime the market may just turn around again and go down so we should always take the necessary precaution and set our stops to secure profits. There is also an altcoin party happening because bitcoin is moving sideways so it's time for the altcoin market to shine. On the other hand, Binance has been able to address the issue immediately regarding SYS no wonder they are the top exchange.

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