Coinbase customers went on Bitcoin buying spree amid price collapse

• The US-based exchange published a report on traders’ activity.
• The vast majority of retail traders purchased Bitcoin after the sell-off.

Retail cryptocurrency traders bought Bitcoin right after the epic price collapse on March 12, according to the recent report published by the US-based cryptocurrency exchange Coinbase.

The record trading activity in the recent 24 months was registered within 48 hours after the collapse of Coinbase’s retail trading platform. Bitcoin (BTC) was the most popular asset, while its trading volumes were approximately six times larger from the long-term average. Over $1.3 billion in fiat currencies and digital assets were transferred to and from the accounts during the market sell-off, which is five times more than an average volume of deposits.

Also, the exchange noted that the number of new clients doubled during the period of extreme volatility, while buyers outnumbered sellers.

Our customers typically buy 60% more than they…