Things are getting optimistic at Binance as the crypto exchange reports handling a growing order volume. In fact, according to a tweet sent out by the exchange’s CEO Changpeng Zhao, the current order volume has surpassed the peak of December 2017.
The year 2017 is historical in the crypto world, especially because it’s the year the market exploded into a major bull run, with top cryptos like Bitcoin achieving their ATH prices that haven’t yet been recovered.
Massive Bull Run In Sight?
From an optimistic point of view, many would opine that the rise in order volumes indicates an impending bull run. Also, the fact that the order volume is more than that recorded during the 2017 peak may suggest that the incoming bull run might even be more robust.
As a matter of fact, the talk about an imminent crypto bull run in 2019 has been going on for months, and the market has already seen some sharp spikes that almost validate that idea – but the real action is yet to be seen.
However, according to more information given in the tweet, the current trading volume (not order volume) is only about a third (1/3) of that recorded during the 2017 peak. Also, in comparison to 2017 peak prices, Bitcoin and Ethereum prices score about a third (1/3) and a fifth (1/5) respectively. The rest of the altcoins aren’t any better either.
Various online characters responded to Zhao’s tweet, with some showing some skepticism while others seemed more accommodative of the good news. However, a few had an issue with Binance’s server outages. However, the CEO assured that the exchange is working around the clock to get more servers running and reduce the volume backlog.