Bitcoin Hasn't Seen These Numbers Since May 2021: 32 Percent Growth

November was a historic period in the crypto market in terms of trading volume.

Bitcoin, in particular, reached its highest level since May 2021 in terms of on-chain trading volume. On November 12, Bitcoin trading volume increased significantly, reaching 154.92 billion BTC.

Trading volume increased by 32 percent in the last week

As we approach the end of November, total trading volume increased even more. According to Santiment's data, a 32 percent increase in trading volume was recorded in the last 7 days. This growth is associated with investors directing the profits they made during the period when Bitcoin reached its all-time high to altcoins.

Rapid movement in altcoins

A portion of the profits made from Bitcoin are being redistributed to altcoins, which are seen as more speculative assets. Santiment states that these altcoin transactions occur rapidly on a daily basis and create dynamic movement within the market.