Crypto exchanges hit a three-year record: Has the number of investors increased?
With Donald Trump becoming the 47th US president, the trading volume on crypto exchanges reached its highest level in the last three years.
The rally that has been awaited for years in the crypto market has begun due to the impact of the US presidential election. While money continues to flow into altcoins, new investors entering the crypto market flocked to centralized exchanges.
Expectations that Trump will provide regulatory clarity in the crypto industry and that Bitcoin will become a reserve currency have pushed the trading volume on centralized exchanges to record levels.
According to New Hedge data, the trading volume recorded by the exchanges last month reached $2.9 trillion, the highest level since May 2021.
New investors have turned to crypto exchanges
A spokesperson from the Crypto.com exchange emphasized that the exchange has started to record a record trading volume. The spokesperson noted the following;
“As a company and an industry, we are seeing increasing interest and investment in cryptocurrencies, which has led to record trading volumes globally in the last few weeks.”
The Crypto.com spokesperson said that market sentiment will continue to remain positive in the first quarter of 2025.
According to the spokesperson, the increase in trading volume is due to the US election results and expectations for regulatory clarity.
Exchange executives believe that adoption in the crypto industry will increase further in the coming years. Kraken Australia general manager Jonathon Miller told Cointelegraph;
“Kraken experienced a surge in volume throughout the post-election market rally.” The exchanges saw trading volumes alongside major altcoins such as $XRP and #Dogecoin .
Miller emphasized that DOGE’s trading volume on Kraken exceeded $ETH for the first time.
The Binance spokesperson emphasized that more investors are entering the crypto space and institutional demand is increasing.
