As cryptocurrencies become more widely accepted in the mainstream and under the effect of significant geopolitical changes, their trading volume is witnessing a steady increase.
Most recently, this growth has been most visibly experienced by Bitcoin (BTC), with an average daily trading volume that has surpassed Apple (NASDAQ: AAPL) by nearly 60%.
According to data acquired by Finbold, the average daily trading volume during the observed one-month period leading up to March 9, 2022, was $15.6 billion.
These calculations are based on the average trading volume of Apple’s shares per day/session which, per YCharts data, amounted to 94 million, and the average price of AAPL during the observed 30-day period, which was $166.07.
By comparison, the average daily trading volume of Bitcoin in the 30-day period was $24.73 billion, according to CoinMarketCap data. To be more precise, this means that Bitcoin’s average daily trading volume was higher than Apple’s by exactly 58.42%.
Bitcoin market reacts to executive order signing
In addition to its daily trading volume overtaking Apple, Bitcoin has recently experienced a price hike, as well. As earlier reported by Finbold, its price has surpassed the $42,000 mark on March 9.
The price of Bitcoin, along with other cryptocurrencies such as Monero (XMR), was pushed largely by the accidentally leaked draft of US President Joe Biden’s Executive Order on the government’s cryptocurrency policy, and its actual signing hours later.
Bitcoin seven-day chart. Source: CoinMarketCap
By press time, Bitcoin was trading at $42,321.69, a 10% increase over the previous 24 hours, according to CoinMarketCap data.
Having said that, the platform and cryptocurrency’s seven-day chart shows that the price is still lower than seven days before when it traded at $44,160 or 4% higher than at press time.
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