According to October data from Crypto.com, 97% of users only focus on Bitcoin and Ethereum trading. Their trading traffic may be the reason the exchange’s daily income increased to around $9 billion that month. Trading on this platform rose significantly in October, which the crypto community has named “Uptober” due to the usual price increases during that time.
Crypto.com saw its greatest monthly trading volume in October, with almost $140 billion in sales. This was more than double the $57 billion reported by Coin Base, which allowed Crypto.com to outrank Coinbase and gain the lead in the North American market.
For Bitcoin, the price surge at the end of October almost sent it back to its record high set on March 19 at $73,835. The price increased to about $73,600, which led to a surge in trading activity on important crypto exchanges. Ethereum, on the other hand, gained more gradually but steadily and hit the $2,700 level during the month, also contributing to increased traffic on the platform.
Crypto.com users’ demand for Bitcoin and Ethereum remains strong according to the data. Investor confidence and interest in these two digital assets play a significant role in the stock market’s growth, which is expected to continue in the following months.