Binance trading volume tops all-time high with $37B in a day

With Bitcoin within $1,000 of its all-time high price of $19,891 set in December 2017, trading on major crypto exchange Binance is also hitting new heights, with more than $37 billion in volume in the last 24 hours.

According to data from CoinMarketCap, the daily trading volume of Binance has now hit $37,291,444,117, up 40.5% in the last 24 hours. Last week, the analytics site reported $25 billion in trading volume for Binance.

In addition, Bitcoin (BTC) futures open interest on Binance hit an all-time high of $1.17 billion, according to crypto analytics site Glassnode.

#Bitcoin futures open interest on #Binance hits an all-time high (~$1.17B)Chart: https://t.co/qktAwF39NV pic.twitter.com/1ohynfUiyf

The surge accompanies bullish price action from the major crypto assets. The price of Bitcoin is more than $19,100 at the time of publication, having risen 4% since yesterday, Ether (ETH) has surged more than 25% in the last week to reach $605, and yesterday, XRP rallied to a yearly high of $0.73 after more than doubling in the span of a week.

While the exchange is drawing in more trading activity than ever, it’s doing so without U.S. users. Several Twitter users based in the United States have reported an email from Binance informing them they have 14 days to close their accounts. The exchange reportedly said the accounts will be locked if they fail to withdraw all funds before the deadline. Binance has been restricted for users living in the United States since September 2019.