TL; DR
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In March, the amount of money traded back and forth on centralized crypto exchanges was just $2.5 trillion, reflecting increased interest in the crypto market.
Full story
Check the date.
It’s April 4 (or April 5, depending on your time zone).
Point is: what we are going to tell you – and we cannot emphasize this enough – is not an April Fool’s joke…
In March, the amount of money traded back and forth on centralized crypto exchanges was just $2.5 Trillion (with a T).
(Upright doubling total trading volume of February).
“Okay, sounds impressive at first…but what does it mean Actually mean for the crypto market?”
Good question. We have no idea.
A joke! (Can you imagine?)
High trading volume, whether it pushes prices up or down, is a good sign for the crypto market – because:
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At niche/local level: it means centralized exchanges like Coinbase are going to be eating well this month! (Their money is made mainly through transaction fees).
Coinbase is a publicly traded company and will announce their earnings next month. The potential headline of ‘all time high fee Revenue’ will reflect positively on the crypto industry.
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On a broader scale: High trading volume causes volatility – which traders can make money on both the way up and down.
(And if there is money to be made with a new technology, it will undoubtedly attract new users).
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On an even broader scale: Overall, this indicates an increased interest in the crypto space.
All in all great news for the Web3 and crypto space!