Bitcoin trading volume hits record high

The price of Bitcoin rebounded effectively in the Asian session on Thursday (November 12), but there is a tendency for the short-term market to fall into volatility again.

The quotes released by BITSTAMP showed that Bitcoin/US dollar (XBT/USD) fell from the 340 level to below 300 yesterday, and rebounded to around 320 in the Asian session of this trading day.

The quotes released by KRAKEN show that Bitcoin/ Euro (1.0758, 0.0009, 0.08%) (XBT/EUR) fell from the 315 level to around 285 yesterday, and rebounded to above 295 in the Asian session of this trading day.

The quotes released by Huobi.com show that Bitcoin/ RMB (6.3665, -0.0006, -0.01%) fell from the 2290 level to around 1815 yesterday, and then rebounded in shock, trading at the 2070 level in the Asian session of this trading day.

In terms of industry, according to data from bitcoinity.org, Bitcoin's trading volume last week reached 14.4 million Bitcoins, almost close to the total amount of Bitcoin in circulation, setting a historical record.

The volume is more than double the previous highs seen in January 2015 and November 2014, when volatility was high. The previous high was 2.2 million bitcoins in November 2013.

It is reported that the vast majority of reported trading volume originates from Chinese Bitcoin exchanges, accounting for 93% of the total market.