- Binance trading volume reached a new monthly high of over $132 billion.
- Bitcoin (BTC) futures open interest on Binance.
- The volume surge shows bullish price action in the crypto market.
- However, the rise in exchange trading volume happened without US users.
Binance trading volume reached a new monthly high of over $132 billion in November. Moreover, the leading cryptocurrency exchange recently touched a new high of over $37 billion in terms of 24h trading volume.
According to Coinmarketcap, Binance trading volume is at $39 billion, at the time of writing.
The company’s previous monthly volume high was in August, which came in at $124.9 billion. In addition, Bitcoin (BTC) futures open interest on Binance hit an ATH of $1.17 billion, as per crypto analytics site Glassnode.
— glassnode (@glassnode) November 24, 2020
Binance holds over one-third of the value of the Bitcoin futures market, which is at $4.1 billion. Other notable shares of this market are BitMEX and ByBit, which hold $700 million and $1.1 billion of the market respectively.
More so, the surge shows bullish price action in the crypto market on major assets. The price of Bitcoin, Ethereum, and Ripple has surged over 29.85%, 26.84%, and 98% correspondingly in the last month.
However, the Binance trading volume surge activity happened without US users. Moreover, many Twitter users in the US reported an email from Binance. The exchange mentioned that US users must leave Binance in 14 days.