Bitcoin spot volume reaches all-time highs in 2022

Recent data shows that the number of Bitcoin spot trades has shot up and set a new high for the year 2022 so far.

The number of Bitcoin spot trades is going up sharply. According to Arcane Research's most recent weekly report, the average BTC volume over the past week has now reached a new yearly high of about $11.4 billion.

"Spot trading volume" is an indicator that shows how much Bitcoin is traded on spot exchanges on any given day.

When this metric's value is high, it means that a lot of coins are watching how the spot markets move. A trend like this shows that investors are busy right now.

On the other hand, low values of the indicator mean that exchanges aren't doing much right now. This kind of trend could mean that investors aren't interested in crypto right now.

Here is a chart that shows how the 7-day moving average spot trading volume of Bitcoin has changed over the last year:

The indicator's value is now about $11.4 billion, which is the highest it has been not just so far in 2022 but also in the last twelve months as a whole.

The chart also shows how much each cryptocurrency on the cryptocurrency exchange Binance adds to the total daily spot volume.

It looks like the exchange has a lot more activity than the rest of the market put together, and this has been going on for a while. The reason for this is that the platform got rid of fees for some BTC trading pairs a while ago.

This made it more likely for traders who wanted to use high volume trading strategies to go to Binance. As a result, Binance became more popular.

After this most recent rise, Binance's share of the average daily total Bitcoin spot trading volume over the past seven days has grown to about 87%.

At the time of writing, the price of Bitcoin is around $20,300, which is an increase of 8% in the last week. In the past month, the value of the cryptocurrency has dropped by 17%.