RATE Group | Coinbase Reports Record Bitcoin Buying Amid March 12 Crash
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Coinbase Reports Record Bitcoin Buying Amid March 12 Crash

31 Mar Coinbase Reports Record Bitcoin Buying Amid March 12 Crash

Posted at 10:39h in Cryptocurrency News by

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Leading United States-based cryptocurrency exchange Coinbase has published a report providing detailed insights into how its users responded to the violent crypto market crash suffered on March 12.

While many in mainstream markets were panicking as President Trump’s travel ban sent shockwaves across the global economy, crypto traders on Coinbase were mobilizing funds to buy the dip, according to a report published March 31.

Retail traders on Coinbase rally to buy the dip 

Coinbase’s retail platform saw “record-breaking” trading activity throughout the 48 hours during and after the aggressive slump compared to its 12-month averages.

Bitcoin (BTC) was the most-traded crypto asset during the crash, with Coinbase estimating total BTC trading was six times the average during the crash — fuelled by three and a half times the average number of active traders and a buy-ratio of 69%.

Ether (ETH) was the second-most popular cryptocurrency during the dip, with five times the average…

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