According to data from CryptoCompare, the trading volume reported by the cryptocurrency exchanges has flown through the ceiling. Huge liquidity has flowed into the market in recent months and growth has not stopped.
Cryptocurrency exchanges have reported a high tradig volume since the small running of the bull that came in the end of the year. However, on the day of the great fall, the volume broke all records and probably started another increase in liquidity.
The high liquidity, together with the slowly rising price, can mean that the next bull run is slowly approaching. Mike Novogratz, for example, expects ATH by the end of the year. Bitcoin would certainly have enough fundamental power to do so. It is approaching halving, when the reward for each mined BTC block is reduced by half.
A large volume is reported mainly by currency exchange offices offering SPOT positions. These include mainly Binance, Okex and Coinbase.
Institutions are leaving the market
Another highlight of the CryptoCompare report is that the trading volume of cryptocurrency derivatives experienced ATH during March. FTX, for example, experienced a volume increase of 94%, thus surpassing even more stable cryptocurency exchanges.
However, institutions are slowly leaving the market. For example, CME Futures was 44% less interested. This may have been due to the coronavirus crisis, which eventually forced the stock exchange company to suspend its activity indefinitely.