Bitfinex Becomes Top Bitcoin Exchange in 24h Volume; Chinese Exchanges Drop in Rankings After PBoC Warnings


Bitfinex, a well-known digital currency exchange based out of Hong Kong, has taken the lead in global Bitcoin volume over the past 24h, accounting for 14.85 percent of all turnover ($59.8 million).

Chinese exchanges OKCoin.cn and Huobi, which dominated even after Chinese regulators forced them to start charging trading fees and halt margin trading, have slipped to position #2 & #3, respectively, according to Coinmarketcap.com.

OKcoin and Huobi suspended withdrawals today to upgrade their AML/KYC procedures after regulators from the People's Bank of China issued a strongly-worded statement, telling all Chinese digital currency trading venues to comply with all laws or risk being shut down.

After suffering one of the biggest bitcoin hacks in recorded history in August of 2016, Bitfinex BTC/USD volumes remained mostly suppressed in the last months of 2016. However, as the digital currency rallied towards the $1000 mark at the end of 2016 and into the beginning of 2017, Bitfinex volumes began to surge to levels seen prior to the hack.

Charts from Data.Bitcoinity.org show that on January 4, 2017, Bitfinex volume hit $92.6 million, the second-best day since the exchange launched in 2013.


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