Bitcoin trading volume on Square and Binance are a key metric for cryptocurrency investors who track the market’s movements. Unlike much of the cryptocurrency exchange industry, which suffers from inflated figures, investors trust Binance and Square’s numbers.
That’s because Square’s on the hook with the SEC to keep his numbers straight, and Binance is just like that. It is the most trusted cryptocurrency exchange among digital asset investors despite the light financial regulations of Malta where it’s incorporated.
What do these numbers tell investors?
Square’s Q4 letter to shareholders reported that the payments giant processed over $50 million in bitcoin purchases in Q4 2018, a year-end surge in bitcoin purchases that put Square’s yearly total at $166 million for 2018.
That’s not bad growth since November 2017 when Square Founder Jack Dorsey added Bitcoin buying and selling, and a wallet custody service, to the widely used Cash App.
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