Exchanges

Exchanges listed on the Canadian Bitcoin Index combined for a record volume of $1.67 Billion by contrast 2016 saw just $149.6 Million traded (an increase of around ~1100%). While value traded has increased every year since the first trade logged in 2011 this year’s rise in volume was exceptional.

Total Exchange Traded $ per Year

A chart of the monthly volume shows that December saw a large % of the yearly traded volume with $662 Million traded in December alone. The heaviest trading day was 22nd December where $57 Million was traded. On January 29th just $278,000 was traded on exchanges tracked by the Canadian Bitcoin Index. The average daily volume was $4.6 Million or 794.3 Bitcoin.

Traded Volume by Month 2017

2017 saw the loss of Taurus Exchange who transitioned to a brokerage model but saw the addition of EzBTC with that exchange now accounting for approximately 1% of total traded volume. A new exchange based in Vancouver, Einstein Exchange was launched, but this exchange does not have a CAD/BTC order book and hence is not included in the Index.

QuadrigaCX once again was the volume leader and cemented its dominant position in the Canadian marketplace with a market share of ~72% during 2017.

Coinsquare completed a redevelopment of their platform and currently commands a ~19% share of the CAD/BTC market.

Kraken has been suffering from performance issues and while fixes are on the way it still lacks a variety of deposit options for Canadians and saw its BTC/CAD market-share slide from 17% in 2016 to ~9% in 2017.