Axi $12B crypto trading surge signals heightened market demand, positioning the leading forex broker as a key player.
Axi $12B crypto trading surge signals heightened market demand, positioning the leading forex broker as a key player.
Axi Crypto Trading Surge: Axi reveals an astounding surge, hitting $12 billion in crypto CFD trading volume within January. The broker has experienced a surge in demand for cryptocurrency trading, with an average of nearly 70,000 trades processed weekly.
Throughout 2023, Axi consistently reported crypto volumes ranging between $1 billion and $2 billion. In December, we witnessed a significant uptick, with volumes peaking at $6 billion, a trend persisting into the new year. This surge is believed to be closely tied to mounting expectations and potential approval of spot Bitcoin exchange-traded funds (ETFs) earmarked for the US retail market.
Despite the volatility in Bitcoin prices driven by ETF approval speculation, Axi Crypto, known for trading crypto CFDs, has gained popularity among traders. The platform allows users to trade popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple, among others. Axi offers crypto CFDs through entities regulated in St Vincent and The Grenadines, providing traders with various leverage options, including a relatively high leverage of up to 200:1.
While the volumes of crypto CFDs have seen a meteoric rise on Axi’s platform, it’s important to note that this fast-execution broker represents only a fraction of the trading activity observed on major exchange venues like Binance, Bybit, and OKX, which process significantly larger volumes in both derivatives and spot trading.
Despite the growing demand for crypto CFDs, particularly among retail traders, Axi’s report highlights the broker’s ongoing interest in diversifying its offerings to include other investment instruments within the dynamic digital asset trading landscape.
In a related development, Axi has inked an extended trade deal with the renowned football club Manchester City FC. The collaboration aims to launch the ‘Select Your Edge’ campaign, promoting Axi’s Select program and further solidifying the broker’s presence in the forex market.
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