Cryptocurrency exchanges across the world are pulsating these days as the markets turn active and the price of the various digital assets soar. While the price of Bitcoin is reaching its all-time high and other cryptocurrencies are also racing, the stock exchanges are reporting high trading volumes.
Germany-based stock exchange Boerse Stuttgart revealing its number, cited that the Bison Crypto trading app has done massively well reaching 1.21 billion dollar trading until now in 2020.
Boerse Stuttgart’s Crypto trading App reports massive numbers
The Bison trading app for crypto assets trading recorded humungous trading volumes of above €1 billion, with daily trading volumes going to € 35 Million. B
Boerse Stuttgart is the second-largest stock exchange in the country with a dedicated crypto exchange, which was launched at the beginning of 2020. The exchange provides access to the retail and high-value corporate investors through its Bitcoin-Euro trading pair.
Boerse Stuttgart added a Bitcoin exchange arm to its trading mechanism in April 2020 to help the customers to buy and sell Bitcoins to deal with the unprecedented economic conditions that impacted the market after the Covid-19 breakdown. Ahead of the Bitcoin Halving event that happened in May 2020, the Bitcoin trading facility on the Boerse Stuttgart exchange was a great help for the institutional and retail investors.
The exchange group said that the exchange had reported high trading volumes, and the number of active users has also gone up by almost 180 percent in 2020, making the total number of users on the Bison app 206,000. Sowa Lads developed the trading app Bison. It was available for use in September 2020, on which the users could trade in Ether, XTP< Litecoin, and bitcoin initially. Later, several other coins were also added.
The free to download App did not charge any fees at the time of launch. Ulli Spankowski, the managing director of Sowa Labs, said that the “Bison makes trading in digital currencies easy. It is the first crypto app in the world to have a traditional stock exchange behind it.”
Bison trading app has emerged as a highly promising tool in the year as depicted by the increasing number of users and high trading volumes. With few days still left to 2020, market watchers and the Boerse Stugggart would watch out for the performance of the Bison app more closely.
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