Bitcoin continues to reach industry record levels.
According to Checkonchain data, the volume of Bitcoin (BTC) of $ 130 billion on Wednesday is one of the highest in its history. The volume of extraction has increased since President Trump won the United States elections in early November, doubleing from an average daily of $ 65 billion.
The futures market (the set of traded futures contracts) recorded a volume of 110 billion dollars yesterday. This is the fifth-largest futures trading volume on record, and only advanced a few days in November and December last year.
The spot market saw roughly $15 billion of traded volume, which is approaching an all-time high. Meanwhile, bitcoin ETFs saw around $5 billion worth of trade volume, which is around half the all-time high seen in March 2024.
With bitcoin is vying to be a global settlement layer, the more volume and liquidity that can be generated, the greater the asset’s chance of onboarding institutions that want to settle in billions of dollars at a moment’s notice.
This story originally appeared on Coindesk