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Monday, May 29, 2017

Cryptocurrency Trading Volume Hits $4.3 Bln, Nears Stock Exchange Volume

Cryptocurrency Trading Volume Hits $4.3 Bln, Nears Stock Exchange Volume

On May 25, the cryptocurrency trading volume hit $4.3 bln. Bitcoin, Ethereum, Ripple, Ethereum Classic, Litecoin and NEM drove the cryptocurrency trading volume to new all-time highs.

Bitcoin developer and entrepreneur Jimmy Song compared the cryptocurrency trading volume to the exchange volume of major stock exchanges such as NASDAQ. Although the cryptocurrency market’s trading volume is only a fraction of major stock exchanges such as NASDAQ, it is nearing the exchange volume of smaller stock exchanges such as Thailand and Australian stock exchanges.

In order for the cryptocurrency market to near the trading volumes of major stock exchanges, particularly the 16 stock exchanges in the $1 Trillion Dollar Club, the cryptocurrency market will need to achieve a multi-trillion dollar market cap. Currently, the market cap of the cryptocurrency market is $71 bln.

Full story at http://bit.ly/2rynK4q

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