Exchanges' Traffic to Reach 2019 Record Levels

For example, Binance was visited 42 million times and Coinbase - 35 million; also, on 16th of May, at Coinbase $376M worth transactions were performed
10 June 2019   353

Donald Trump's trade wars, protracted uncertainty over the expected UK exit from the EU (Brexit), and the looming threat of a global recession could be factors that in May revived activity in cryptocurrency markets, Bitcoinist believes. Against this background, traffic on the leading bitcoin exchanges, in particular, Binance and Coinbase, has noticeably increased.

So, according to SimilarWeb, Binance, which is one of the thousand most visited sites in the world, was visited by 42 million people in May. At Coinbase, the largest US cryptocurrency exchange, the value was 35 million.

BInance and Coinbase Traffic Data
BInance and Coinbase Traffic Data

The increased attendance in turn was converted into an inflow of funds to the exchanges and in trading volumes increase, which together amounted to about $ 5.9 billion last month. Also, the 14-month maximum in trading volumes was recorded at Coinbase last month. The record day came on May 16, when transactions worth more than 47,400 BTC (about $ 376 million) were concluded.

Bitcoin Trading Volume
Bitcoin Trading Volume

Economic problems are pushing the growth of transactions with Bitcoin almost all over the world, however, this is especially clearly seen in the example of Latin America. Thus, according to LocalBitcoins, in recent weeks, significant growth was recorded in Chile, Colombia, Peru, Brazil and Argentina, and in Mexico, which was also threatened by a trade war with the US, due to the uncontrolled flow of immigrants, trading volumes reached a new record level.

Also, a steady growth in the volume of transactions on LocalBitcoins is observed in Argentina, but over the past few months, the absolute record for the number of bitcoins sold in one day belongs to Brazil - according to CointraderMonitor, on April 10, platform users in this country made deals for 100,000 BTC.

In addition, in the first half of May, its own record for daily trading volume — more than $ 10 billion — was updated by the BitMEX derivatives exchange BitMEX, and already at the end of the month, the historical maximum for open contracts for Bitcoin futures was recorded at the Chicago Commodity Exchange (CME), which testifies to the growing interest of institutional investors.

Kraken to Raise $13.5 Thru BnkToTheFuture

2,263 people with an average investment of $100.000 took part in crownfunding campaign, which became record for the platform
25 June 2019   200

The US Bitcoin exchange Kraken raised $ 13.5 million through the sale of private equity through the investment platform BnkToTheFuture (BF). This was the most successful round of financing from individual investors in the history of BF, reports CoinDesk.

So, in total Kraken crowdfunding campaign was attended by 2,263 people with an average investment of $ 100 thousand. The funds raised are probably used by the exchange to make new acquisitions.

It is noteworthy that BF created a subsidiary, which became the recipient of individual investments in order to subsequently act as a single investor for Kraken. This allowed the exchange to bypass the requirements of the US Securities and Exchange Act and not to go to an IPO.

It is noteworthy that Kraken initially intended to raise $ 10.2 million, but the demand for its shares turned out to be higher and the exchange extended the fundraising period.

According to Kraken's own estimates, its capitalization is $ 4 billion.

Earlier this year, the exchange also acquired Crypto Facilities, a trading platform for cryptocurrency derivatives, expanding the range of services offered.