FTX US Average Daily Volume Grew 512%

FTX US Average Daily Volume Grew 512%
  • Average daily volume grew 512% in Q3; peak total volume of $807 million during a 24-hour period on 9/7/21.
  • Held ~4.5% of US crypto spot market volume at the end of Q3; up from ~2% at the start of Q3.
  • User count increased by 52% over the course of Q3.

West Realm Shires Services Inc, a leading US-regulated cryptocurrency exchange, announced its corporate business update for Q3 2021.

FTX US continued to establish itself as one of the leading US cryptocurrency exchanges by volume. As of today’s date, according to Cryptowatch, FTX US continued to hold the #1 ranking of all digital asset exchanges in the US for liquidity, having maintained this ranking throughout the entirety of the calendar year 2021 to date. Additionally, the Company carried an average daily volume of ~$360 million in the third quarter and increased its platform user count by 52% over the three-month period.

Brett Harrison, President of FTX US, commented on the news, “The continued growth and success of the FTX US platform is a testament to our team’s dedication to delivering industry-leading technology and unrivaled customer service. The trust and support of our user base has allowed FTX US to become the fastest growing and most in-demand crypto exchange in the US, but we have barely scratched the surface. We will continue to improve our existing offerings and rapidly expand into new areas, including derivatives, NFTs, and payment services.”

Q3 2021 Corporate Updates

  • Initiated (and closed in Q4 ‘21) the acquisition of Ledger Holdings Inc., parent company of LedgerX LLC., a Commodity Futures Trading Commission (CFTC) regulated digital currency futures & options exchange and clearinghouse.
  • Rebranded FTX: Blockfolio to FTX, cementing the mobile app as the easiest-to-use, safest and most powerful mobile crypto trading experience for users anywhere in the world.
  • Continued to expand its operational presence in the US, increasing its headcount by 30%.

Mr. Harrison continued, “The acquisition of LedgerX, which we have since rebranded as FTX US Derivatives, will enable us to provide licensed crypto futures and options to our retail and institutional customers, and has placed us in the unique position to reshape the US derivatives market. To achieve our goals, we will be in constant communication with regulatory agencies and are hoping to play a central role in defining crypto regulatory policy in the US. We are humbled to see how much we have grown in just the past quarter alone and are thankful to our team members and loyal customers who have joined us on this journey.”

Source: FTX US

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