The cryptocurrency exchange bitFlyer reported a surge in trading volume and new registrations during Bitcoin’s recent rally.
bitFlyer is one of the largest exchanges in the cryptocurrency industry and is licensed in Japan, Europe and the USA. As the price of Bitcoin continued to climb into uncharted territory earlier this week, bitFlyer’s rising numbers point to a resurgence in interest in the crypto market.
According to Coinhills data dated December 2, 2020 shared by bitFlyer, the crypto exchange has a daily trading volume of 151,000 Bitcoin ($ 2.9 billion).
In November, bitFlyer achieved the highest trading volume of the year, which was around 77 billion US dollars worldwide. According to the exchange, most of this trading volume “went into the Bitcoin markets”.
One reason bitFlyer may have enjoyed that success now is the fact that it now has an established presence in the United States that has played a significant role in Bitcoin’s recent bull run.
Commenting on Bitcoin’s recent all-time high, Joel Edgerton, COO of bitFlyer USA, said: “During its all-time high in late 2017, Bitcoin’s price hit over $ 19,700, led by retail investors in Asia, particularly Japan. This time it is led by the US with a tangible contribution from institutional investors. “
These institutional investments by companies like MicroStrategy and Square have resulted in Bitcoin being perceived and described as a more reliable long-term asset than described better than gold on several occasions.
As soon as this week hit the all-time high, the The crypto community was optimistic This was just the beginning of uncharted territory for cryptocurrency. And many new dealers are flying in to join them.