October Trading Data Shows 97% of Crypto.com Users Focus on Bitcoin and Ethereum
In October, nearly 97% of Crypto.com’s platform users exclusively traded Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization. These coins fueled trading traffic and increased the exchange’s daily volume to $5.3 billion by month end.
Crypto.com’s trading volume in October reached a record high of $139 billion, more than double that of Coinbase’s reported $57 billion. With this growth, Crypto.com took the lead in the US market and surpassed Coinbase. According to exchange management, the increase was primarily due to rising Bitcoin and Ethereum prices, which attracted more investors to the market.
In October, Bitcoin’s price almost reached an all-time high of $73,835, and it rose around the $73,600 level, leading to increased trading activity on major crypto exchanges. On the other hand, Ethereum grew more slowly but steadily, crossing $2,700 during the month and contributing to the platform’s traffic growth.
Data shows that demand for Bitcoin and Ethereum among Crypto.com users remains constant. Investors’ confidence and interest in these two digital assets play a key part in the stock market’s growth, expected to continue in the upcoming months.