Highest trading volume for ethereum on Coinbase since 2017

The weekly trading volume for ethereum on the American crypto exchange Coinbase is at its highest level since 2017.

Between May 13 and May 19, a total of 3,675,570 units of the cryptocurrency changed hands on the exchange’s most popular trading pairs ETH/BTC and ETH/USD. This corresponds to over $904 million – the highest weekly total since December 11, 2017.

If you add other trading pairs at Coinbase, the total will reach over $1 billion at current market prices, Coindesk writes.

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Retail investors return

Coinbase, the largest crypto exchange in the US, is valued at $8 billion and is considered to have one of the strongest brands in the crypto exchange industry.

The fact that the trading volume for ethereum now is back at the same peak levels as 2017 may indicate that retail investors have again begun to re-enter the crypto markets after months of declining prices.

Historically, such large increases in trading volumes for ethereum have been followed by major rallies for the world’s second-biggest cryptocurrency, Coindesk writes.

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