The altcoin market is increasing its share against Bitcoin as investors begin to turn to riskier assets.
According to the information shared by Kaiko Research, altcoins increased the total transaction volume in the market last week for the first time after March 2022. accounted for 67%.
The daily trading volume of the altcoin market fell at the beginning of last month for the first time since April 2023 over 20 billion dollars output. This is due to “the ongoing rally and traders moving into riskier assets,” according to Kaiko Research.
Global altcoin volume in September 2022 responsible for 60% Binance lost power last week 46% share took. The total volumes of Upbit, Bybit and OKX trio are increased from 11% to 35%.
Kaiko Research’s report also focuses on investment products created for Bitcoin. a strong flow of money It was stated that this was due to the “growing excitement of institutional investors” awaiting the spot Bitcoin exchange-traded fund (ETF).