The market for cryptocurrency caught up in terms of trading volume with the New York Stock Exchange

Image: Silveira Neto , CC BY-SA 2.0

According to the Coinmarketcap analytical portal, the daily trading volume of cryptocurrency on December 20 exceeded $ 50 billion. Approximately the same daily trading volume is fixed on the New York Stock Exchange. For comparison, on the London Stock Exchange, daily trading volume averages $ 7 billion.
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Comparison with the stock market is not entirely correct, since we are still talking about currencies, write analysts Business Inside. However, such a comparison is more correct than in the case of the fiat currency market - crypto-money is mainly traded by small, often retail investors, among which there are very few large organizations.

Cryptocurrency attracts more and more new traders, due to the rapid growth rate of Bitcoin. Over the year, it grew by about 1,500% against the dollar.

A large number of ICOs, during which, in fact, start-ups produce their own cryptocurrencies, provoked the emergence of new digital assets for investors. According to Coinmarketcap, there are currently about 1,300 cryptocurrencies.



Top 5 cryptocurrency by capitalization. Data: Coinmarketcap

At the same time, financial experts pay attention to the fact that the cryptocurrency market is currently poorly regulated by the state. The Chief Executive Officer of the Financial Conduct Authority of the United Kingdom announced in early December that cryptocurrency investors should be prepared to lose all the money invested in Bitcoin. JPMorgan CEO Jamie Dimon suggests that the cryptocurrency market may turn out to be a bubble.

Other materials on finance and stock market from ITI Capital :

• ITI Capital Educational Resources
• Analytics and market reviews
• How to cheat traders on cryptocurrency exchanges: the investigation of Business Insider
• The state will pay citizens for familiarity with the stock market
• Trading on the exchange in questions and answers: accounts, insurance and comparison with banks
• Remote opening of a brokerage account through the portal of state services: why and how to do it