At the same time as the value of many fiat currencies in the world has fallen against the dollar, the attention of some investors has been drawn to digital currencies such as Bitcoin and Ethereum. In the meantime, the activity of British and European investors also seems bold.
To Report Finbold, the data recently published by the analytics platform Messari, shows that a part of UK and EU investors are selling their pounds and euros and buying bitcoins in an unprecedented amount.
Masari analysts say:
As individuals operating in the UK and EU see their official currency depreciating, they are noticeably selling their pounds and euros and buying bitcoins with them. If this action was only to gain profit from the price fluctuation of this digital currency, then the volume of transactions [در بازار جفتارزهای «بیت کوین/ پوند» و «بیت کوین/ یورو»] Also, it would only increase as much as May 2021 (May 1400) and March 2020 (March 2018).
According to the chart above, the trading volume of the Bitcoin/Euro market in the week between September 22 and 27 (September 31 to October 5) has reached 50,000 units, and a similar figure has been recorded for the Bitcoin/pound market. In addition, British and European investors have received relatively good reception of Ethereum.
Masari said about this:
The Ethereum market is witnessing an influx of capital from European and British individuals, however, its trading volume is not seeing the same jump as Bitcoin. Trading volume on the ETH/GBP market has increased, but this growth is similar to many of the previous normal trading days of the market; Like late 2020 and early 2021.
On September 26 (30 Shahrivar), the volume of Bitcoin/pound market transactions in digital currency exchanges reached its highest level in history at 881 million dollars. This is despite the fact that the volume of transactions in the market of this currency pair during recent months was usually around 70 million dollars.
It should be noted that according to the data of the analytical platform Sentiment, the total volume of Bitcoin transactions reached its highest level in the last 3 months on September 29 (October 7), i.e. 42.68 billion dollars.
Bitcoin is currently trading at $19,280, down less than 1% in the last 24 hours and up 1.40% in the last 7 days. The volume of hoddled bitcoins has also recently reached a 5-year high of 7.50 million units.
Ethereum is now trading at $1,310 and has lost less than 1% in the last 24 hours and seven days. The number of new addresses that are created daily in the network of this digital currency has recently decreased significantly, which can be a bearish sign for Ether.