The run-up to Bitcoin’s halving has driven near-record volumes, with April 30 posting the second-largest daily trade on record.
Pre-halving speculation has driven historic volumes of crypto trade, with April 30 producing the second-strongest single day for volume on record according to a report published by market data aggregator, CryptoCompare.
Notional volume for BTC options on Chicago Mercantile Exchange, or CME, also tagged a new record in recent days, with 202 contracts changing hands on May 5.
April 30 posts historic volume
$66.2 billion worth of crypto assets changed hands on April 30 as Bitcoin (BTC) rallied above $9,000 — comprising the second-largest daily volume behind the $75.9 billion in crypto assets traded during the historic March 13 crash.
CryptoCompare estimates that 73% of trade took place on what they specify as lower-tier exchanges, while $17.9 billion traded on, by their reckoning, top tier platforms.
The three-largest spot exchanges, Binance, OKEx, and Coinbase, represented 10.4% of total trade, hosting $3.6 billion and $2.5 billion in volume respectively.