Both Binance and Huobi, the world’s leading and fourth-ranked cryptocurrency platforms respectively, are displaying triple digit increases in trading volume in comparison to the same statistic ten days ago.
Binance has seen trading recover by 130% over the period whilst the corresponding figure for Huobi is 104%. Bithumb, according to the same source, has seen volume on its own platform more than triple with trading thought to have increased by over 230%.
— Mr Crypto India (@MrCryptoIndia) July 5, 2018
Another Hot Crypto Summer?
The news also comes on a day in which the last twenty-four hours of market trading have also demonstrated their own signs of a strong recovery momentum, with Binance’s BTC/USDT trading pair yielding a 16% increase in volume. OKEx – sitting just behind Binance in second place in the crypto-exchange rankings by trading volume – shows a similar figure for the same trading pair.
“July is traditionally a strong trading month for crypto-currency trading,” states crypto market analyst, Ali Yazbek. “And there appears to be signs now – although it is still too early to make the call – that we are seeing a similar trend for the coming summer.”
Bitcoin itself is currently trading at around $6,680 as a weighted average across all exchanges, its highest figure in three weeks, in a further sign that a possible summer recovery lies ahead.