Binance hit a record $600m in Aussie daily trading volume last week
Link copied to
Binance had a record of over $600 million in daily cryptocurrency trading volume against its Australian currency pairs last week, the crypto exchange says.
The record was broken last Wednesday, according to Binance Australia.
Yesterday Binance was reporting $294 million in 24-hour trading volume for its Australian currency pairs. That included $50 million in trades between Aussie dollars and Tether, the stablecoin that tracks the value of the United States dollar; $50 million in trades between Ethereum and the Australian dollar; and $30 million in trades between Bitcoin and the Aussie.
Globally Binance handled $61.9 billion in spot trades yesterday, making it by far the biggest exchange by volume.
Closer to home, Sydney-based exchange the Independent Reserve had handled $28.8 million in crypto trading yesterday, while Melbourne-based BTC Markets had $32.5 million in volume.
US-based Kraken had a little over $4 million in trading in Australian currency.
By way of comparison, the ASX says that in April it handled an average of $5 billion in daily trading volume.