Bitcoin ETF

Frenzy

Trillion

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-trading-frenzy-as-monthly-volume-surpasses-1-trillion/" data-wpel-link="internal">Crypto Trading Frenzy as Monthly Volume Surpasses $1 Trillion</a><br></p>
<p style="text-align: justify">In recent days, an important development occurred for the cryptocurrency markets as the monthly trading volumes on crypto exchanges surpassed the $1 trillion mark for the first time since September 2022.</p> 
<h2 style="text-align: justify" id="crypto-trading-frenzy">Crypto Trading Frenzy</h2> 
<p style="text-align: justify">According to data provided by a crypto research platform, the transaction volume for December impressively reached $1.1 trillion. This figure is noteworthy following the $1.35 trillion peak seen in May 2022.</p> 
<p style="text-align: justify">Leading the December trading frenzy, <a href="https://en.coin-turk.com/last-minute-announcement-from-binance-issues-with-futures-trading/" data-wpel-link="internal">Binance</a> accounted for $432.7 billion in transactions, making up 39.3% of the total volume. Binance was followed by Upbit with a volume of $91.8 billion, representing an 8.3% share. Close behind was OKX with a transaction volume worth $87.5 billion, creating an 8% share.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-297763" src="https://coin-turk.com/wp-content/uploads/2024/01/1-trilyon-dolar-coin-turk-com.jpg" alt="" width="687" height="474"></p> 
<p style="text-align: justify">The unexpected surge in trading activities during December is being associated with the potential approval of spot <a href="https://en.coin-turk.com/could-bitcoin-fall-to-25000-experts-new-expectations-on-cryptocurrencies/" data-wpel-link="internal">Bitcoin</a> Exchange-Traded Funds (ETFs) in the United States.</p> 
<p style="text-align: justify">Stephen Zheng, President of The Block Research, commented on the activities:</p> 
<blockquote> 
 <p>Considering the holiday season, December is historically a slow month for crypto trading. The monthly spot trading volume exceeding $1 trillion for the first time in over a year really shows the industry’s optimism for the impending approval of a spot Bitcoin ETF and the revival of the bull market.</p> 
</blockquote> 
<h2 style="text-align: justify" id="expectations-rise-for-bitcoin-etf-approval">Expectations Rise for Bitcoin ETF Approval</h2> 
<p style="text-align: justify">In the latest weekly newsletter from leading on-chain analysis firm CryptoQuant, it was mentioned that a decision in the United States could lead to the approval of numerous spot Bitcoin ETFs, potentially resulting in a “sell the <a href="https://newslinker.co/" data-wpel-link="exclude">news</a>” event.</p> 
<p style="text-align: justify">The firm’s analysis suggests that investors may want to continue with their significant unrealized profits due to the recent rise in Bitcoin’s value.</p> 
<p style="text-align: justify">On the other hand, predictions by Polymarket saw a significant change, with the expectation of a spot Bitcoin ETF approval before January 15th rising to 89%, a notable increase from the previous month’s 50% prediction. The K33 Research team also believed that a spot Bitcoin ETF could be approved by January 10, 2024.</p> 
<p style="text-align: justify">Crypto enthusiasts are highly excited about the approval of spot Bitcoin ETFs, and the optimism in the market has become a major driving force for Bitcoin, the leading cryptocurrency.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/crypto-trading-frenzy-as-monthly-volume-surpasses-1-trillion/" data-wpel-link="internal">Crypto Trading Frenzy as Monthly Volume Surpasses $1 Trillion</a></h5>

Crypto Trading Frenzy as Monthly Volume Surpasses $1 Trillion

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