A review from CryptoCompare for the month of April 2019 indicates that fiat-to-crypto exchanges managed to perform better than crypto to crypto, a sign showing that people are coming back to the cryptomarket and are looking to invest.
The report highlights the impressive 85% growth of fiat to crypto exchanges during the month of April 2019 and the main winners are Bithumb, UPbit and Bitfinex with volumes that go up to $17 billion, $8.7 billion and $6.7 billion.
It may attract our attention that Bitfinex, one of the largest cryptocurrency exchanges in the world, is part of the list indicating the high number of users that prefer the Asian platform.
Though at the moment Bitfinex has to clarify some financial details with the New York Attorney General office regarding the use of Tether funds to cover an $850 million loss, we are certain the exchange will remain one of the most popular online locations to purchase cryptocurrencies in the Asian market.
CryptoCompare paper looked at crypto-to-crypto exchanges too and noticed a 57% increase which is a positive indication that says a lot about investors and traders that are interested not only in Bitcoin, but in other promising digital currencies.
When looking at the numbers, we have to understand that we are not talking only about average individuals choosing to invest in cryptocurrencies, but investors and major institutions from retail or social media that are interested to join the cryptomarket.
An interesting section of the report talks about China-based FCoin exchange that reported a 300% growth rate for the month of April 2019 and more than $37 billion in trading, which represents the largest jump for a crypto-to-crypto platform. Second place was taken by OKEx from Hong Kong with more than $35 billion in trading, while the third place was taken by ZB with more than $30 billion.
As the cryptocurrency space heats up again, everyday traders and long-time investors return to the table eager to profit from the new bull market around the corner. Users prefer to invest not only in digital currencies, but are ready to engage in trading activities and look for the best cryptocurrency projects that can improve the blockchain industry.