March 12, Traders Significantly Increased BTC Purchase Volumes on Coinbase Exchange

Cryptocurrency exchange Coinbase informed that during the cryptocurrency market fall on March 12 on the platform was registered a significant increase in BTC purchases.

Traders Increased BTC Purchase Volumes on Coinbase

March 12, the cryptocurrency market fell to a record low and demonstrated a significant correlation with traditional assets. Wherein, cryptocurrency traders on U.S. exchange Coinbase took advantage of the situation and greatly enlarged BTC purchase volumes, according to the report of Coinbase.

Coinbase analysts noted “record” increase of activity in the moment of cryptocurrency market decline and in 48 hours after it. The first cryptocurrency became the most popular asset — trading volumes grew 6 times, and the number of traders increased by 3,5 times compared with averages.

In second place in popularity expectedly proved Ethereum. ETH trading volumes grew 7 times, together with this the amount of traders increased by 5 times. Other virtual currencies showed approximately the same increase in both trading volumes and the number of active traders.

As well, during cryptocurrency market fall, to Coinbase exchange was transferred $1,3 bln in fiat and digital currencies, what exceeded an average by five times. The number of new users doubled. Users bought cryptocurrency in 67% of cases, however this figure is 60%, on average.

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