XRP and Bitcoin (BTC) Smash Monthly Trading Records as FOMO Peaks
Bitcoin and XRP show largest trading volumes in month because traders are afraid to miss out
In recent market developments, Bitcoin (BTC), XRP and Polygon (MATIC) have experienced a surge in trading volumes, reaching their highest points in over a month. According to Santiment, a prominent crypto market intelligence platform, Bitcoin’s trading volume exceeded $10.37 billion during its peak trading activity, marking a significant spike shortly after crossing the $28,400 threshold for the first time since mid-August.
Similarly, XRP managed to surpass the nine-digit mark with a trading volume of 1.08 billion, following a federal court’s rejection of the SEC’s attempt to appeal a ruling that classified XRP as a nonsecurity asset. Meanwhile, Polygon’s native token, MATIC, achieved a commendable trading volume of $392.3 million, showcasing steady interest in the network and its native asset.
Despite a slight tapering off from their peaks, Bitcoin continues to trade at nearly $10.5 billion, XRP maintains its billion-dollar status and MATIC remains consistent around the $400 million mark. This sustained momentum in trading volumes has generated significant interest within the crypto community, driven by the “fear of missing out” sentiment.
As FOMO reaches its pinnacle, crypto enthusiasts are closely monitoring these developments, eager to understand the implications of record-breaking trading volumes for the future price trajectories of these digital assets. Stay tuned as the crypto market never ceases to surprise and throws up the unexpected literally every day without a break.
