Crypto.com has exceeded Coinbase's trading volume, driven by a rise in institutional clients and the launch of the first spot Ether exchange-traded funds (ETFs) in the US. The centralized exchange reported a 23% increase in 24-hour trading volume, reaching $3.16 billion on Aug. 1, surpassing Coinbase's $2.12 billion. The surge is attributed to the growing institutional client base and improved product offerings. Analysts believe Bitcoin could surpass $700,000 with increased adoption. The recent launch of spot Ether ETFs in the US has further boosted Crypto.com's trading volume. Despite Bitcoin's open interest hitting a record high, the price remains below $65,000, awaiting more institutional interest. The exchange has also seen a significant uptick in interest from traditional finance companies. Overall, the crypto market is witnessing a surge in institutional participation, indicating a positive trend for the industry. Read more AI-generated news on: https://app.chaingpt.org/news

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