Cryptocurrency exchange bitFlyer has experienced a boom in trading and new registrations during bitcoin’s recent spike in price.
bitFly recorded its highest trading volume in November, achieving approximately $77 billion globally.
The exchange company also has been recording 151,000 bitcoins, amounting to $2.9 billion in daily volume since December 2, 2020, based on data shared by Coinhills.
One of the main reason why bitFly may have achieved this accomplishment is that it now has established presence in the United States, which has played an important role in bitcoin’s recent continues to rise in price and optimism.
bitFly is one of the largest exchanges in the crypto industry, with the license of operation in Japan, Europe and the United States.
In the last 24 hours, bitcoin is up by 1.33%, still maintaining its 19k mark, with a current price of $19,375.24. Within 24 hours, bitcoin dropped to $18,753.04 low and $19,458.05 high. The trading volume of bitcoin in the last 24 hours is $26.49B. The current market capitalization of bitcoin is $359.58B. Currently, 18,561,125 bitcoins is in circulation.
Stats and Image by Coin Desk
While commenting on the all-time high of bitcoin, Joel Edgerton, the COO of bitFly, USA said that one of the reasons for the recent bitcoin’s all-time high is due to institutional investments by large companies like Microstrategy and Square.
“The price rise was affected by several factors. Listed companies such as Square and MicroStrategy are buying Bitcoin to park their cash as a hedge against inflation due to the massive and ongoing global monetary easing as a result of COVID-19. PayPal launched its cryptocurrency services in the US, which released significant retail demand. Lastly, there are increasing numbers of institutional clients becoming active in the market.”, he said.