Bitcoin trading volume reaches 2017 levels – Grayscale
CONTENT

  • Grayscale Announces Record Cryptocurrency Trading Volume

  • Cryptocurrency trading volume increased by 165% in November

  • Grayscale is going to buy bitcoins

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Grayscale Bitcoin Investment Trust (GBTC) Average Daily Trading Volume Reaches Record Highs Since 2017 In November

Trading volume increased by 165%

The average daily trading volume of the Grayscale’s Bitcoin Investment Trust (GBTC) product exceeded $ 245 million in November and increased more than 165% from the previous month, according to The Block. The last autumn month was the best in the history of the fund, losing only to December 2017, when the average daily volume reached 422.95 million dollars.

Seven of the top 20 trading days were in November 2020, although the highest numbers were still recorded in 2017.

Bitcoin trading volume reaches 2017 levels - Grayscale

As of early November, Grayscale Investments had more than $ 9 billion in assets under the management of Grayscale Investments. Bitcoin is the lion’s share of this portfolio (over $ 7.6 billion). The Grayscale Ethereum Trust is in second place. He manages assets worth about $ 1.1 billion. These investments also look very promising, given the bullish factors behind ETH, including the swift transition to the new Ethereum 2.0 protocol promised by the developers..

Should you invest in ETH now? Read in our article!

Grayscale is buying up bitcoin en masse

Shortly after the May halving on the Bitcoin network, Grayscale Investments acquired almost 20,000 BTC. In September, the company bought over 17,000 more coins, bringing the total investment in bitcoin to 449,000 coins. Experts are confident that bitcoin will reach record prices in the coming 2021, so they are ready to stock up on cryptocurrency now.

Bitcoin trading volume reaches 2017 levels - Grayscale

Also, according to the well-known analyst and blogger in the cryptocurrency environment, Plan B, Paypal, Grayscale, Square are preparing to replenish their bitcoin reserves.

Bitcoin Analysis Today – 2/9/21

Note that earlier the investment company Guggenheim Partners announced that it would buy bitcoins indirectly through the Grayscale Bitcoin Trust. Thus, the investment manager will join the long list of Wall Street companies that have drawn attention to the benefits of a cryptocurrency asset..

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