The cryptocurrency market is finally rising up from the ashes witnessed barely a month ago. A clear sign is forming with the rising daily trading volumes in an up-trending market, which gives a very bullish signal on the crypto market. The rise in price seems to be directly impacting the price of exchange tokens as more trading volume is registered.
Over the past 24 hours, the price of Binance Coin (BNB), OKEx coin (OKB) and Huobi (HT) –three of the largest exchanges in trading volume – against the dollar have each soared over 4% leading the market in its current uptrend.
Boost in trading volumes in the past week to $120 billion
Since the crypto market hit a record high of hitting a record high of $270 billion on Mar. 12, the volumes dropped significantly to sub-$100 billion levels in the last few days of March. The opening of Q2 2020 is setting turning a new leaf on the market as the volumes increase steadily –registering $120 billion in the past 24 hours.
Bitcoin’s spot volume picking up, bullish. pic.twitter.com/ekhnPM7BnS
— Panama Crypto (@Panama_TJ) April 3, 2020
The steady boost in crypto volumes has seen the price of exchange tokens such as BNB, HT, and OKB lead the market in the past day.
BNB, OKB, HT lead the market run
BNB trades at $13.76, representing a 4.59% soar in the past trading day. This set the coin at the ninth position on the Coinmarketcap with a total market capitalization of $2,149,991,237.
Huobi Token (HT) and OKEx Coin (OKB) grew by 4.56% and 4.97% in the past 24 hours to trade at $3.66 and $4.70 respectively.