Bithumb Has Exceeded $870 Million in Daily Trading Volume for the First Time Since the Opening of the Domestic Virtual Currency Market

- Following July, it recorded the world's largest trading volume for five days from August 3.

- Currently, there are seven virtual currencies available for trading due to the listing of Bitcoin Cash (BCH).

SEOUL, South Korea, Aug. 24, 2017 /PRNewswire/ -- With a high level of social interest in virtual currency, Bithumb (www.bithumb.com), which is the largest global virtual currency exchange, has exceeded $870 million in daily trading volume, a record high. It is the first time that the daily trading volume has exceeded $870 million since the opening of the virtual currency market in South Korea.

Bithumb’s 24-hour trading volume has exceeded $870 million on July 19 at 3:18 p.m. (KST) / Coinhills
Bithumb’s 24-hour trading volume has exceeded $870 million on July 19 at 3:18 p.m. (KST) / Coinhills

Coinhills, which is a ranking site for virtual currency exchanges around the world, announced, "Bithumb's 24-hour trading volume has exceeded Over $870 million on July 19 at 3:18 p.m. (KST)." This figure is the converted amount of 365,246.47 bitcoins which is the trading volume of six coins listed on Bithumb. On July 18, it showed over $600 million worth of trading volume and set a record of more than Over $870 million in one day.

Bithumb's trading volume surpassed $500 million on June 29 and over $580 million on July 17, the highest among all exchanges in the world. In two days, it ranked first in the trading volume with over $870 million. Also, the trading volume of the global virtual currency topped for five days from August 3.

Since the beginning of service in January 2014, Bithumb, which is South Korea's leading virtual currency exchange, has grown with its monthly trading volume surpassing $10.5 billion in July, and it has become the world's largest virtual currency exchange. Also, it is making a change forward into a financial platform company based on virtual currency by expanding its business into a payment business that can be utilized as a means of payment as well as a virtual currency exchange and overseas remittance service.

Currently, at Bithumb it is possible to trade seven virtual currencies including bitcoin and ethereum due to the listing of Bitcoin Cash (BCH) on August 7. Bithumb's monthly trading volume exceeded over $4.4 billion in May, and virtual currencies close to $10.5 billion - more than double was traded. Bithumb currently has a cumulative membership of 800,000.

In relation to the increase in the trading volume, Bithumb's official said, "Compared to the beginning of the year, the social interest has risen due to the steep increase in the value of virtual currencies such as bitcoin and ethereum. In addition, the fact that multilingual support service, opened by Bithumb in April this year, has helped convenience for the overseas users - it seems to have affected the increase in the trading volume. Therefore, Bithumb will focus on improving service stability through security management systems as trading volume has increased greatly."

Photo - https://photos.prnasia.com/prnh/20170822/1924940-1-a