Volume

95% of the reported Bitcoin (BTC) trading volumes are actually forged and fake. What was once taken to be as an allegation, is now having a documented proof, a research conducted by Bitwise Asset Management.

Bitcoin average trading volume has now reached new highs since 11 months ago.  Bitcoin is the globe’s leading cryptocurrency by market cap. BTC/USD is trading at $4,032 and the total MC is at $139.587 billion, at press time. It has surged up around 150% since October’s record lows. The average daily Bitcoin transaction volume hasn’t registered levels this high since January last year.

Bitcoin, the leading cryptocurrency on the market, has outshined the online payment processing bull PayPal in the total number of yearly transactions. From the data given by Global Statistics portal, Bitcoin (BTC) had $1.3 trillion worth of transaction volume last year and PayPal had $578.65 billion.

A few days ago, the media reported a thousand frozen accounts of Chinese citizens by the Spanish BBVA bank. In today's world, offshore banking is widely used by people around the world and is a good alternative if a man does not want to rely only on the situation in the resident country. Many people use offshore accounts to reduce political risk in their own country. The size of the offshore market is around 32 trillion dollars.

The flagship cryptocurrency Bitcoin is up 0.39% (24h), and is changing hands at $3849.49 at press time. Ethereum (ETH) and Ripple (XRP) are also still pulling ropes in the market. Bitcoin (BTC) yesterday experienced low volatility, having plunged to as low as $3807.00 and surged high hit $3913.71.

In pursuit of new ways to ensure high-yielding opportunities for today's cryptocurrency traders, the CODEX exchange has embarked upon a rather promising solution, called Trade Mining.

The total number of transactions on Thursday, February 8, is as high as the transactions of Friday, January 18, but the fees did not reduce in any way, Reddit reports.

Once again, Coinmarketcap (CMC) is in the hot seat, according to The Merkle. An irate Reddit user damned the website claiming that it was helping pump exchanges which displayed phoney volumes, which primarily had no significance being on the website.

It has been officially reported that the Japanese Yen (JPY) overtook the US dollar in the race for first place in Bitcoin trading volumes. The Yen has over 49% of the total Bitcoin trading volume in the world.