Cryptocurrency trading volume hit a record yesterday after panic selling from Chinese buyers.
The combined 24-hour trading volume reached a new record high of $11.5 billion.
Bitcoin had the largest volume among all cryptocurrencies with $4.2 billion.The surge in volume came after the hysteria, that Chinese regulators would close all local exchanges. The volume surge started after two Chinese cryptocurrency exchanges Huobi and OKCoin announced that they will probably continue to provide cryptocurrency trading services, but will halt yuan-denominated trading by the end of October.
The announcement started the surge in trading volume and the jump in prices.
Photo source: https://coinmarketcap.com/