Cryptocurrency exchanges, both centralized and decenatralized, have now breached the $1Bn mark in funding. Last week saw Coinbase’s total capital raised soar past $500Mn having successfully cornered over a third of US market trading volume this year nearing $220Bn from exchanges with fiat on-ramps. Backers though will now want to see more increased trading activity, the primary income source.
Over 50% of traded volumes on cryptocurrency markets revolve around the majors, Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin. However, the market downfall is taking major US exchanges in its wake. Traded volumes on Coinbase, Bitstamp and Kraken have seen steep declines. Meanwhile, token exchanges outside the US, that have lax regulator scrutiny, are now seeing an increase in traded volume with the majors.