March 6, 2021

Cryptheory

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Who made the most of the downturn?

1 min read
Who made the most of the downturn?

This March was one of the wildest months ever experienced by cryptocurrencies. Many traders and investors with tears in the eye add up the losses that Bitcoin’s collapse has made.

 

However, Cointelegraph.com has come up with interesting statistics to reveal who is the real winner of this slump. These are exchange offices such as Bitfinex, Binance or Bitstamp.

 

Of course, the main source of income for exchanges arew fees. This means that the more people trade, the more money exchange makes. It doesn’t matter if the cryptocurrency goes down or up. What is important is the volume that is traded.

 

Foreign exchange offices experienced an extreme increase in volume. Bitfinex up to 963%. Bitstamp by 650%.

 

Who made the most of the downturn?

 

The information site also comes with interesting statistics that combine a large volume with a large slump. The more the cryptocurrency collapses, the more the Stop-Loss and Buy-When commands are activated. Thus, the volume rolls like an avalanche and creates more volatility, which again promotes a large volume.

 

Who made the most of the downturn?

 

European exchange offices or global exchanges have performed particularly well. The US legislation is relatively strict towards cryptocurrencies and the ripples are therefore smaller in the USA due to problematic liquidity. Conversely, during Asian trading hours, Binance makes it easy to see how capital inflows are causing large price changes.

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