The Increased Percentage of Retail Crypto TradeEndy Callahan
Revolut keeps us informed about the recent trends and changes in the crypto market. The team reports that they have collected data and are ready to present their statistics tho show what kind of transformations are taking place in the crypto community. According to Revolut, the retail crypto trade was much lower two months ago. In the first two weeks in March, there was a significant crash. Fortunately, the past two months have been quite successful and productive. There have been many positive events after the latest fall. Analysts announce that they have noticed a sixty-eight-percent increase in the number of individuals dealing with retail trading of cryptocurrencies.
Revolut is an app that analyzes the financial situation of the crypto market. Its major mission now is to show the impact that the coronavirus made on the habits of those trading cryptocurrencies. Revolut is many people’s favorite and more than ten million customers follow the source. Approximately thirty percent of those people have already traded cryptocurrency utilizing the application. The platform is suitable for traders who deal with the retail of crypto.
The lockdown involved several limitations and the government set a lot of limitations. Two months ago this caused another phenomenon – the amount of crypto that U.K. customers bought decreased by fifty-eight percent. In the beginning, it reached six hundred and sixty-three USD and then fell to two hundred and eighty-one USD.
April Brought Confidence to UK Traders
A month ago UK traders started to regain trust and previous confidence. The situation was slowly changing and a couple of weeks ago traders were feeling much better about the crypto state. As a result, the sum that customers purchased in April increased by fifty-seven percent.
Researchers note that there was a sixty-eight percent rise in the number of application users who choose to trade crypto assets. They comment on the statistics demonstrating a fifty-two percent fall in the average value of the trade. After March the trend changed its course – there was a sixty-three percent increase in April.
Activities related to sales increased during the last ten days last month. The percentage of sellers rose by thirty-eight percent. At the same time, sell orders rose in size by thirteen percent.
Volumes Beat Each Other
March and April showed that BTC gained the greatest interest. Its trades overall was fifty-one percent. The second place went to XRP. It showed twenty percent of trades. Next followed ETH with fourteen percent. BCH along with LTC managed to capture only eight percent each.
Analysts detected a visible link between the age of traders and the amount of crypto they bought. Trade activity that occurred in the UK was stronger than the overall EU volume by around one-third.
The USA also showed that there was a great increase in retail trade two months ago. The volumes in both markets happening in the major exchanges experienced a heavy flow of institutions and professionals. Coinbase admits that they noticed record trade on its platform throughout March.
The recent changes prove that the post-pandemic crisis and problems related to it may have influenced the situation. During the lockdown period, analysts saw a distinct decrease in trades. This month things have improved and there are greater numbers of retail traders who regained their confidence in crypto. Most see that the crypto market is ready to open new opportunities and offer participants to continue their trading practices.
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