Despite ongoing market volatility everywhere, the cryptocurrency industry is still firing on all cylinders. Multiple exchanges note an influx of users and trading volume, which goes to show Bitcoin is still of great relevance.
When exchanges welcome more users than normal, something is bound to happen.
Exchanges Note a big Surge in Users
In this particular case, some platforms saw an increase by over 50%.
That is quite interesting, given the current price volatility Bitcoin is going through.
Every weekend, it drops below $6,000, only to bounce back during the week and repeat the same cycle again.
As long as this cycle repeats itself, there is good money to be made.
It is possible that this is a big reason behind the recent surge in centralized exchange users.
What is even more interesting is how the BTC balances on exchanges are decreasing.
That should, in theory, lead to a higher Bitcoin price is the near future.
With the upcoming halving, that may be something to look forward to.
The only thing better than the current trend would be seeing more users flock to peer-to-peer and decentralized trading platforms.
Until those become more viable, however, that shift may not necessarily occur anytime soon either.
An interesting situation to keep an eye on, for sure.