š Bitcoin trading volume breaks record amid Monday's market crash! š„
š¤ In this cryptocurrency crash, Bitcoin's trading volume has reached its first all-time high since the halving, which is really surprising!
š On August 5, the price of Bitcoin and other cryptocurrencies plummeted like a roller coaster, and many traders' positions were liquidated and the losses were not small. Some people chose to sell Bitcoin to reduce losses, while others took the opportunity to buy BTC at an ultra-low price of around $50,000. Investors have made more than 10% in just two days!
š Let's take a look at the data from Blockchain.com. On August 6, the total trading volume of major Bitcoin exchanges exceeded $1.14 billion! This number is higher than the record in March, and at that time we had not yet ushered in the fourth Bitcoin halving.
š But don't forget that Blockchain.com's data only comes from top exchanges and some over-the-counter markets, and the actual trading volume may be far beyond our imagination.
š According to Dune Analytics, on August 5, more than 90% of transactions on the Bitcoin network were BTC, and transactions on other protocols combined accounted for less than 9%. What does this mean? The market's confidence in BTC remains strong!
šø And those crypto hackers will not miss this good opportunity. They used the funds they stole before to buy a large amount of Ethereum while the price fell. For example, the exploiters of Nomad Bridge used 39.75 million Dai to buy 16,892 ETH. This operation is simply amazing!
š¤ The market plummeted, and some people were happy and some were sad. Is this a natural adjustment of the market, or are there deeper reasons behind this plunge?
š¬ Please leave a message in the comment area and share your views and opinions. Let us dig deep into the truth behind this market turmoil!
