TL;DR
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In March, the amount of money traded back and forth on centralized crypto exchanges was just shy of $2.5T, reflecting increased interest in the crypto market.
Full Story
Check the date.
It’s April 4th (or 5th depending on your time zone).
Point is: what we’re about to tell you — and we cannot stress this enough — is not an April Fools joke…
In March, the amount of money traded back and forth on centralized crypto exchanges was just shy of $2.5 Trillion (with a T).
(Straight up doubling February’s total trading volume).
“Ok, sounds impressive at first glance…but what does it actually mean for the crypto market?”
Good question. We have no idea.
Kidding! (Could you imagine?)
High trading volume, whether it’s pushing prices up or down, is a good sign for the crypto market — because:
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On a niche/local level: it means centralized exchanges, like Coinbase, are going to be eatin’ good this month! (Their money is made mostly through transaction fees).
Coinbase is a publicly traded company, and are due to report 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 on the way up, and the way down.
(And if there’s money to be made in a new technology, it’s bound to attract new users).
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On an even broader scale: In general, it indicates increased interest in the crypto space.
All in all, great news for the Web3 & crypto space!
