íàçâàíèå

Binance Records ATH in Trading Volume. Stats are “Much Higher” Than The Peaks of 2017

Binance Records ATH in Trading Volume. Stats are “Much Higher” Than The Peaks of 2017

The crypto market is registering records of popularity, indicating that the bearish season seems to be over. After Ethereum experienced a historic increase in its transactions, Binance seems to prove that the hype in the markets is even stronger than what many of us haveimagined.

A recent tweet published by CZ, Binance CEO, showed his astonishment upon a boost in trading volume so dramatic that his Exchange (currently the most important in the ecosystem) struggled to withstand the heavy workload exerted by users.

The failures of the Exchange annoyed some traders, who reported substantial losses given the difficulties to establish positions and correctly manage the order books.

Interestingly, although BTC is still halfway through its 2017 price peak, CZ explains that this seems to be a historical landmark. The number of orders is currently much higher than the crest of 2 years ago.

After a few hours the Binance team solved the situation and although the volume of orders exceeded expectations, at no time was the platform shut down or put the funds of users at risk.

Binance Had Issues, Bitcoin is Down… But The Panorama is Still Bullish

It is difficult to establish an absolute correlation between the Binance issue and the price of Bitcoin, however being the main crypto Exchange in the market, it is probable that this failure has increased the number of short positions, causing a fall of Bitcoin to prices near 7650 USD.

Although the correction in the Bitcoin price dragged other cryptocurrencies with it, the trend still seems to be bullish and the indicators favorable. It is possible that once natural trading resumes, the market will return to normal again.

This anomaly can be seen by comparing the signals on charts with candles set at 4 hours and those with candles set at 1 day. Those who trade in the short term have a significant amount of bearish signals, whereas for those who trade with candles of 1+ day, will have a more favorable outlook.

Currently Bitcoin (BTC) registers a normalization of its RSI, which has dropped to normal zones after presenting overly high values, however, a cross in the MACD as a result of this bearish behavior could reach the token to test a support close to 7350 USD in the short term, although the pattern remains bullish.

On the other hand, the short-term candles outlook shows that after dropping from 8000 USD to close to 7000 USD, Bitcoin managed to recover and then correct close to 7616 USD. However, the Relative Strength Index (RSI) shows an optimistic outlook awaiting confirmation.

The post Binance Records ATH in Trading Volume. Stats are “Much Higher” Than The Peaks of 2017 appeared first on Ethereum World News.

22.05.2019 / 22:30 67
Bitcoin Buy Volume Reaches Record High on Binance, Intense Demand Bitcoin Buy Volume Reaches Record High
The Bitcoin trading volume on Binance established a historic high as the asset price jumped more than 15-percent within an hour. The global
‘Big’ Update Coming to Binance, Maintenance Impending ‘Big’ Update Coming to Binance,
Binance, the world’s largest cryptocurrency exchange by traded volumes, will be entering into scheduled maintenance starting March 12 at 2 AM UTC.
ETH Breaks Yearly Records in Trading Volume: 5.56Bn USD in 24Hours ETH Breaks Yearly Records in Trading
Ethereum seems to be recovering from last year’s heavy blow, surviving not only the strong bearish trend in the crypto market but also the strong
Binance: Decentralized Exchange Will Connect With Hardware Wallets Binance: Decentralized Exchange Will
Binance CEO has revealed that the BinanceDEX new decentralized exchange will offer support for hardware wallets immediately once it launches. CZ:
Binance CEO: Market Still in Good Position — Real Crypto Volume 2x Larger Than Reported Stats Binance CEO: Market Still in Good
In an interview on CNBC Crypto Trader hosted by Ran Neuner, Binance CEO Changpeng Zhao (CZ) stated that the crypto market and Binance are still in a
Binance CEO: More Manipulation in Traditional Markets Than Crypto Binance CEO: More Manipulation in
Market manipulation is seen by most investors as a serious problem that has to be addressed with regulation as it interferes with the natural market
Comments (0)
Add a comment
Comment on