$3bn 24h trading volume. Who trades so much Bitcoin??

There's something I'm trying to understand.

So coinmarketcap says there's 3$bn of bitcoin traded daily. Even if 90% of that is washed - that still leaves $300m that changes hands every day, and that's excluding OTC (which is probably even bigger).

My question is - who makes up all this volume? Like what kind of entities?

On the selling side I'm guessing it's miners + anyone who gets paid in cryptos they don't want. But on the buying side? Retail investors are completely inactive - and institutional money is not yet in. Market makers and liquidity providers I get - but they must be making the market FOR someone? Who is that someone? Is it some sort of day trader?

Attach an imageAttach a fileSend



Submitted October 21, 2018 at 09:42PM by xepo3abp https://ift.tt/2S6S2oX

Comments

Popular posts from this blog

No, Bitcoin is not controlled by a small group of investors and miners (A rebuttal to the TechSpot article)

Day 9: I will post this guide regularly until available solutions like SegWit, order batching, and Lightning payment channels are mass adopted, the mempool is empty once again, and tx fees are low. Have you done your part?