Crypto Exchange FTX Reports a Significant Jump in Volumes during H1 2021

West Realm Shires Services (FTX.US), one of the leading crypto exchanges in the world, released its business and operational updates for the first half of 2021 today. The company saw a substantial jump in the average daily volume (ADV) during H1 of 2021.

The press release shared with Finance Magnates states that the company’s ADV grew 150x YoY (June 2020 vs June 2021). The ADV reached the peak of approximately $993 million during a 24-hour period on 22 April 2021.

In H1 of 2021, FTX.US saw daily volume between $150 million and $1 billion. In terms of Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, the exchange maintained its top position in the US during the mentioned period. In addition to the strong financial numbers, FTX.US signed several sponsorship agreements in the first six months of 2021.

Commenting on the latest business and operational updates, Brett Harrison, President of FTX.US, said: “The fact that we have achieved this growth in roughly one year since the launch of FTX.US is a testament to the hard work and dedication of our entire team. Witnessing their drive to deliver industry-leading technology and service is something that humbles me every day, and together we will continue to strive for excellence in everything that we do.”

In June 2021, FTX.US opened its office in Chicago to expand its presence in the growing crypto market of the US. Additionally, in May 2021, the crypto Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term launched FTX Pay.

Expansion

During the recent announcement, Harrison mentioned that the company is planning to increase its operations rapidly in the coming years. In April 2021, FTX.US secured naming rights to the Miami Heat basketball arena in a 19-year, $135 million deal.

"We've already surpassed so many impressive milestones, enhanced our operations, and expanded our brand's presence around the globe. We're excited to continue growing FTX.US through the development of innovative technology offerings and additional partnerships,” Sina Nader, Chief Operating Officer of FTX.US, mentioned in the press release.