##4 key insights into Bitcoin's global trading Volume

            Visit - https://t.me/freebitmexsignals




For more latest news update on Cryptocurrency, Free Crypto signals & Bitcoin Binance Bitmex automated trading BOT visit above given Telegram channel



Bitcoin markets are still minuscule compared to traditional finance, yet capable of exceeding them in less than five years, says a new report.




In brief:


Crypto data firm Coin Metrics has published a detailed analysis of Bitcoin's global trading volume.


Data showed that fiat currencies are far from dominant in the crypto market.


Bitcoin derivatives' volumes are several times larger than all spot markets.




Coin Metrics, a Boston-based cryptocurrency data and infrastructure startup, has published a detailed breakdown of Bitcoin’s trading volumes today. 



Assessment of trading volume is hard because different calculation methodologies can result in varied outcomes. The report provides a unique insight into where the majority of Bitcoin trading takes place, by looking at multiple different aspects.



Bitcoin trading on spot markets

According to the report, Bitcoin’s daily trading volume amounts to roughly $0.5 billion on US spot markets in total, when looking at markets that handle US dollars.


While there are a large number of crypto exchanges that operate in the US, the majority of Bitcoin trading occurs on just four large platforms—Coinbase, Bitstamp, Bitfinex and Kraken—according to Coin Metrics’ data.



Comparing the types of trading volume


If worldwide fiat markets are also taken into account, Bitcoin’s daily trading volume gains an additional $0.7 billion, reaching $1.2 billion in total.


The Japanese yen, the euro, the Korean won and the British pound are the most prevalent fiat currencies used to trade Bitcoin after the US dollar, Coin Metrics noted. 



Looking at stablecoin markets


At the same time, fiat currencies make up only one-third of Bitcoin’s trading volume if stablecoins are also added to the mix.



“Including markets quoted in stablecoins significantly increases the daily trading volume to $3.5 billion, primarily due to Tether—a stablecoin which operates in a regulatory gray zone,” the report continued.