{"id":195051,"date":"2021-03-05T19:14:19","date_gmt":"2021-03-05T16:14:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/cryptocurrency-trading-surged-amid-tesla-bitcoin-buy\/"},"modified":"2021-03-05T19:14:19","modified_gmt":"2021-03-05T16:14:19","slug":"cryptocurrency-trading-surged-amid-tesla-bitcoin-buy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/cryptocurrency-trading-surged-amid-tesla-bitcoin-buy\/","title":{"rendered":"#Cryptocurrency trading surged amid Tesla bitcoin buy"},"content":{"rendered":"

“#Cryptocurrency trading surged amid Tesla bitcoin buy<\/strong>”<\/p>\n

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Cryptocurrency trading surged to record levels in February as the price of bitcoin swung wildly following Tesla\u2019s $1.5 billion investment, new data show.<\/p>\n

Crypto trading volumes soared 17 percent to more than $2.7 trillion last month as the electric-car maker and other major companies started to embrace digital currency, according to a Friday report<\/a> from industry data provider CryptoCompare.<\/p>\n

The jump came as the price of bitcoin \u2014\u00a0the world\u2019s biggest and oldest cryptocurrency \u2014 hit a record high above $58,000 on Feb. 21 thanks in part to bullish comments from billionaire Tesla CEO Elon Musk.<\/p>\n

But crypto trading was heaviest two days later on Feb. 23, when bitcoin went through a \u201csharp correction\u201d and plunged to around $43,000 after Musk tweeted that the price looked \u201chigh,\u201d according to CryptoCompare.<\/p>\n

Nearly $160 billion in cryptocurrency changed hands that day, marking a new all-time record for trading volume, the firm\u2019s report says.<\/p>\n

\"Elon
Elon Musk<\/figcaption>
Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n

The data points to both the growing popularity of cryptocurrency and the big price swings that could hamper its widespread use as an investment asset or payment method.<\/p>\n

The trading spike coincided with signs that cryptocurrency was nevertheless gaining traction among big corporations and institutional investors. Mastercard and BNY Mellon announced last month that they would support crypto payments and investments, and CME Group launched futures trading for Ether, the second-largest cryptocurrency by market value.<\/p>\n

The bulk of the elevated trading flowed through the biggest crypto exchanges, which saw their volumes surge 35 percent to $2.4 trillion, according to CryptoCompare. <\/p>\n

Smaller exchanges, on the other hand, saw their volume shrink by 36 percent to $381 billion, the firm\u2019s data show.<\/p>\n

\"Bitcoin\"
The price of bitcoin \u2014 the world\u2019s biggest and oldest cryptocurrency \u2014 hit a record high above $58,000 on Feb. 21 thanks in part to bullish comments from billionaire Tesla CEO Elon Musk.<\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Cryptocurrency trading surged amid Tesla bitcoin buy” Cryptocurrency trading surged to record levels in February as the price of bitcoin swung wildly following Tesla\u2019s $1.5 billion investment, new data show. Crypto trading volumes soared 17 percent to more than $2.7 trillion last month as the electric-car maker and other major companies started to embrace digital…<\/p>\n","protected":false},"author":1,"featured_media":195052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/03\/crypto-64.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[96305,76127,39394,73785,36402,71407],"class_list":["post-195051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-3-5-21","tag-cryptocurrency","tag-elon-musk","tag-markets","tag-tesla","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/195051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=195051"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/195051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/195052"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=195051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=195051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=195051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}