Bitcoin Trading Volume Surged to $2.8T in January to August Period

Over a period of eight months, the total worth of Bitcoin transactions conducted on centralized platforms reached an astounding $2.874 trillion, as reported by data provider Kaiko based in Paris.

Compared to the first eight months of 2021, which recorded a volume of approximately $2.424 billion, the current figure is about 20% higher, marking the highest level since 2012.

According to Kaiko’s weekly report, the surge in cryptocurrency volatility is linked with a growing number of investors joining the market, particularly in the Bitcoin sector, as high trading volumes have been observed.

According to data from TradingView, bitcoin’s 10-day historical volatility reached a staggering 100% annualized figure in April. This spike can be attributed to increased investments into U.S.-based spot ETFs and speculations about potential Federal Reserve interest rate reductions, which contributed to the cryptocurrency’s price climbing to unprecedented levels above $70,000.

Last month, there was a resurgence of market turbulence at the beginning, primarily due to worries over the U.S. economy and the process of unraveling the yen carry trade. This instability extended to various risk-related investments such as stocks and cryptocurrencies.