AAX Exchange is elated to announce significant growth in its fourth-quarter figures thanks to new user sign-ups.
As per the data by Coingecko, a cryptocurrency exchange tracker, AAX’s trading volume in Q4 grew exponentially, with its average 24-hour daily trading volume reaching $1 billion. In addition, the exchange saw its trading volume in the retail sector grow to more than 140% on a sequential basis from Q3 to Q4.
Commenting on the growth, Ben Caselin, Head of Research and Strategy at AAX, explained:
“Over the past year, as we saw Bitcoin adoption unfold and a growth explosion around NFTs and GameFi, AAX has been able to capture considerably more market share as a portal to and hub in this new investment arena. Going forward, as we expand globally, we intend to be a ‘listening platform’ that operates in the midst of society.”
According to AAX, in the last quarter of 2021, the exchange saw over 200,000 new clients open AAX accounts. The exchange also saw a 150% increase in social media followers and over 2 million visitors on their websites per month.
In Q4 of 2021, AAX reportedly added numerous trading pairs, including popular tokens such as Animoca Brands, to boost its offerings to investors. Currently, AAX offers over 250 cryptocurrency pairs and 130 plus coins that any user can easily trade on the platform. Notably, the data showed that AAX traders were more interested in trading Solana, Bitcoin, Polygon, Ethereum, and Shiba Inu during this period.
Caselin added:
“Whereas 2021 was all about institutional adoption, the market is set for a retail frenzy that will see crypto reach a new level of mainstream adoption with both Bitcoin and other major crypto assets set to reach new-all-time highs this year. This is what AAX is preparing for.”
The news comes weeks after AAX CEO Thor Chan stepped down after serving since November 2019. Chan is currently serving as a member of the Board of Directors as the exchange works towards finding a new CEO.
AAX is more than just a trading platform. The platform offers a full suite of financial products and services to its community ranging from NFT artists and entrepreneurs to savvy traders and the unbanked. In addition, the platform is actively engaging in public discourse while at the same time positioning itself as a crypto hub for everyone.
