2024

Bitcoin

Block

<p class="is-style-lead">According to a Jan. 11 report by CryptoQuant, an on-chain and market analytics tool, Coinbase’s Bitcoin OTC trading volume reached $7.7 billion today.</p> 
<p>On Jan. 10, an official SEC filing revealed that spot Bitcoin ETFs had received approval for listing on all registered national exchanges in the U.S., including the Nasdaq, NYSE, and CBOE. This approval follows a decade-long pursuit of this type of product. </p> 
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   <p lang="en" dir="ltr">Coinbase records a year-high for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> OTC transfer volume at $7 billion today.<a href="https://t.co/HrkV3TUGJT" target="_blank">https://t.co/HrkV3TUGJT</a> <a href="https://t.co/vxv0znNJG2" target="_blank">pic.twitter.com/vxv0znNJG2</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1745426717689462924?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 11, 2024</a>
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<p>One day later, CryptoQuant reported that the purchase of Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) had surged in direct response to this announcement, reporting the highest level since Mar. 21 last year. It is also worth noting that the volume was at $1.3 billion a month earlier.</p> 
<p> You might also like: <a href="https://crypto.news/cryptoquant-unveil-two-potential-scenarios-for-spot-bitcoin-etfs/"> CryptoQuant unveil two potential scenarios for spot Bitcoin ETFs </a> </p> 
<p>At the same time, Glassnode, an on-chain market intelligence platform, revealed that the Bitcoin Hash Rate had also achieved an all-time high value exceeding 600 EH/s, equivalent to a staggering 600 quintillion guesses every second in block puzzle-solving attempts.</p> 
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   <p lang="en" dir="ltr">The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> Hash Rate continues its aggressive expansion, reaching an ATH value of over 600 EH/s. This is equivalent to 600 quintillion guesses every second in an attempt to solve the Block puzzle. <a href="https://t.co/HWfmb9yH9D" target="_blank">pic.twitter.com/HWfmb9yH9D</a></p>— glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1745458123937317122?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 11, 2024</a>
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<p>The report states that on-chain transaction volume is also upward, with daily settlements of over $5.7 billion in economic transfers. This sentiment is mirrored in exchange flows, where a substantial $4.6 billion in daily inflows and outflows underscore the escalating growth in investor activity.</p> 
<p> Read more: <a href="https://crypto.news/cryptoquant-ceo-reveals-how-whales-prepare-for-market-fluctuations/"> CryptoQuant CEO reveals how whales prepare for market fluctuations </a> </p>

Coinbase’s Bitcoin OTC trading volume reaches second-highest level in history

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