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Monday, January 25, 2021

Bitcoin Smashes Daily Trading Volume; Hits $99 Billion In A Day

There is no need to imagine the times when Bitcoin will reach heights, as the time is here. The most popular cryptocurrency is making daily records and breaking those records the very next day. Not only did this crypto coin smash its daily trading record, its price also reached an all time high on January 9, 2021.

If 2020 was the year when this currency started regaining popularity and making its way into the mainstream economy, then 2021 is the year of breaking records for this cryptocurrency. According to the latest news, BTC’s daily trading volume crossed over $99 billion today, a record high, reports CoinMarketCap.

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To be exact, $99.3 billion worth of this cryptocurrency was traded on a single day marking this record high in the history of this cryptocurrency. But that is not the end of the story. Bitcoin’s trading volume record coincided with another news. The price of this crypto-coin reached an all-time high on January 9th as well. It currently trades at the highest value of $41,941.

Bitcoin Races Forward But Still Way Behind StableCoin

Investors and market analysts are taken aback by the rapid growth of this cryptocurrency. The value of Bitcoin grows at the rate of $3500 per day. This is evident from yesterday’s trading value which was $38,250.

After the record-high, the price and the trading volume dipped a little. The current value stands at 40,540 and the daily trading volume is $92.7 billion.

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Dr. Efi Pylarinou, though leader and influencer tweeted after the record-breaking trade of BTC today saying that the volume of this cryptocurrency has doubled since the last ATH (all-time high).

When compared to other cryptocurrencies, Bitcoin’s DTV is double that of the second largest digital currency, Ether. The DTV of Ethereum stands at $46 billion presently, according to recent news. However, Bitcoin is far behind Stablecoin, the US Dollar pegged currency.

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