During the last week, the bulls were back in the crypto market, flooding the crypto space with excitement.
For more crypto experts, this was a sign that we’re out of the long crypto winter.
Tron’s Justin Sun claimed that we’re out of the bearish market a while ago when he said that BTC has already hit a bottom, and then more voices in the crypto space agreed.
Crypto traders are back
Now, Binance CEO Changpeng Zhao says that the crypto traders are definitely back and he also said that they are in higher numbers than ever.
During a brand new interview with CNBC’s Crypto Trader, Changpeng Zhao said that the number of orders that are placed on the leading crypto exchange is how at an all-time high.
“The fact that the price can go up so quickly means that there was a lot of money waiting to buy Bitcoin. And they were fearing missing out – the FOMO mentality. So the fact that the price can go up so quickly means all that money was ready, which means that people still have a lot of confidence in this industry,” CZ said as reported by The Daily Hodl.
He continued and explained that “And not only that, the trading volume per transaction, the number of transactions, the number of orders people are submitting, is at an all-time high. We see more orders than January of 2018.”
Trading volume and system load, at an all-time high
He also said that BTC’s price is a little lower and the total trading volume in US dollar seems lower because of that.
But in fact, we’re reportedly looking at an all-time high in terms of trading volume and system load.
CZ said that the trading volume began even before last week’s bulls. He said that there was a little “warming up” before the spike.