Trading volumes of Binance and Huobi bounce up by over 100%
Major crypto exchanges Binance and Huobi showed triple-digit increase in trading volume in ten days. According to statistics shared by Crypto India mentioning the source as CoinMarketCap, the world’s leading crypto exchange, Binance’s trading jumped by 130% over the period. Meanwhile, Huobi increased by 104%. The same source mentions that the trading volume of Bithumb increased by over 230%.
The massive increase in trading volume was noted on the day the overall signs of recovered was noticed on the crypto exchanges. It is evident with Binance’s BTC/USDT trading pair currently shows an increase of 17.75 % in volume, OKEx took the second place. According to the website ICOExaminer, crypto market analyst, Ali Yazbek said, “July is traditionally a strong trading month for crypto-currency trading…And there appears to be signs now – although it is still too early to make the call – that we are seeing a similar trend for the coming summer.”
In other news, Binance has listed DENT as their latest token on the exchange. Their blog mentions that from now onwards, deposits are open and one can start trading with BTC/DENT and ETH/DENT trading pairs. DENT is currently trading at $.0050 which is up 44.15% in the last 24 hours, which is known as the Binance Effect.
Meanwhile, the Chinese cryptocurrency exchange Huobi, which is currently at number 3 has confirmed trading on its new Australian platform. It began from July 5. Houbi which has $713 million in daily trade volume trading pairs phased throughout Thursday from 10 am Sydney time. The exchange mentioned that ten pairs will initially be on offer for Australian dollar, including Bitcoin, Ethereum, Litecoin, Ethereum Classic and Bitcoin Cash. “In the future, Huobi Australia will open more trading pairs to all users,” the exchange mentioned while announcing.
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