A huge number of political factors swayed the economic situation during May. Who would have thought that all of them only positively influenced the cryptocurrency market.
Bitcoinist conducted a study, thanks to which it became known that the leading exchanges have greatly increased Bitcoin traffic, namely Binance and Coinbase. This can be seen in the chart below.
In May alone, Binance was visited by over 42 million users, and Coinbase 35 million.
The crazy traffic was perfectly converted into the flow of funds to the exchanges and the growth of trading volumes, which together amounted to about $ 5.9 billion last month.
May 17 was Coinbase's record-breaking day; in one day, deals of more than 47,400 BTC (about $ 376 million) were concluded on the stock exchange.
Growth to bitcoin exchanges is actively progressing in Chile, Colombia, Peru, Brazil and Argentina. In Mexico, there was a cryptocurrency boom, due to the fact that drug traffickers switched to Bitcoin.