Bitcoin (BTC) has experienced an unprecedented decline in the past 7 years, with a sudden depreciation of $ 3,800 on March 12. The major collapse in history as Black Thursday has caused a lot of speculation. Although every theory put forward tries to explain the enormous liquidation, behind the scenes has always remained dark. Coinbase, the leading US crypto exchange, made striking statements about the collapse of Bitcoin (BTC) on March 12.
Bitcoin (BTC) Open Favorite
Coinbase said in a statement that very interesting transactions occurred within 48 hours after the liquidation of Bitcoin (BTC) on March 12. The exchange says that in the 48-hour period, cryptocurrencies were invested 5 times more and cash 1.3 billion dollars flowed into the stock market. In addition, Coinbase stated that there is a 2-fold increase in the number of new users, a 3-fold increase in users who make transactions, and a 6-fold increase in the total transaction volume. In addition, the stock market made the following statement:
Two things were very clear during the big liquidation: Our customers were in the receiving position at the time of the decline and Bitcoin was an open favorite
Our customers usually buy 60% more than what they sell, but during the collapse this situation jumped to 67%, benefiting from the discount on the market and representing strong demand for crypto assets even during extreme volatility.
Number of Users Increases Exponentially in Crypto Exchange
Meanwhile, the peer-to-peer Bitcoin exchange Paxful reported that the number of new user registrations doubled in March. London-based crypto exchange Luno said there was a 50% increase in new users in the past 30 days. Decrypt, Bitfinex and OKex are reported to have seen significant growth in new users this month.
In addition, the crypto exchange Kraken reported a 83% increase in enrollment transactions and a 300% increase in the number of users that went through the customer recognition (KYC) process. Jesse Powell, Kraken CEO, said he increased the number of staff by about 10% to meet the new user flow.
Related posts:
GitHub Libra Code draws criticism from users 
Tipping on Reddit and Vimeo in BAT introduced by Brave 
Newcomers to the crypto market have to pay attention to scams and pump and dumps 
Hardly any growth in downloaded crypto apps, despite tripling price bitcoin 
Bloomberg accepts Bitcoin – says cryptomonads are here to stay 
The Central Bank can release their cryptocurrencies earlier than expected
