Bitcoin price swings translates into big volumes – Business Insider

Bitcoin had a wild weekend and that translated into record-breaking volumes.

Bitcoin, the red-hot digital currency, had a wild weekend and that appears to have translated into record-breaking trading volumes across the cryptocurrency market.

Bitcoin crashed more than 25% from Wednesday’s all-time high to a low of $5,617 Sunday. Bitcoin cash, the rival clone of bitcoin, witnessed an impressive rally that propelled the coin to a record-high of $2,500 early Sunday morning.

The 24-hour trading volumes for cryptocurrencies reached a record high above $26 billion on Sunday, according to data site CoinMarketCap.com, the highest ever.

To put that in perspective, that is higher than the 5-day average trading volumes for two US stock exchanges. Both IEX, the upstart exchange based in New York, and the Chicago Stock Exchange averaged less than $10 billion in trading each day for the last five days, according to data by Cboe Global Markets.

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