Cryptocurrencies’ trading volume to pass Apple’s
Cryptocurrency, the technology that is revolutionizing finance forever, is predicted to pass Apple’s trading volume soon. Apple’s current trading volume is 4 billion a day on average while Cryptocurrencies’ trading volume is usually 3 billion a day.
“Cryptocurrency trading volume is now more than of $3bn/day on average, and will likely soon surpass that of the world’s most liquid stock: Apple ($4bn/day)”, Jens Nordvig, founder and CEO of Exante Data, said on Friday. Nordvig said trading volume between Bitcoin and Ethereum has increased eight fold in the last year.
Not only is the trading volume increasing, but Bitcoin and Ethereum’s price is increasing rapidly. As more and more people are wanting to buy Bitcoin and Ethereum, the demand is soaring. Bitcoin is up 260 percent just this year, while Ethereum had a 2500 percent price increase. Blockchain technology is changing the world forever and everyone wants in on the action.
“We do not believe that one can predict with confidence at this point that any given cryptocurrency will continue to thrive and gain status as an alternative to traditional currencies in the long term,” Stated Nordvig. “But we look forward to using the information from an increasingly active cryptocurrency market in our tracking of global capital flows, when appropriate.”