They further support these results by comparing daily market turnover with gold, a similar but different asset (store of value). We can observe that Bitcoin’s market behavior follows that of gold relatively closely. If we were to increase the daily turnover to match that of Gold, we would obtain a global Bitcoin daily spot volume of around $380 Million, which could serve as a rough estimate if we factored in fake volume exchanges.

Shrimpy: $300 Million in trades & 2% of daily Bitcoin market volume?

A few weeks ago, we released an article detailing how we achieved $250 million in executed crypto trades. Since then we haven’t stopped. In the last month, our monthly volume has increased by over 70%!

Based on the $270 Million in actual daily Bitcoin spot trading volume taken from the Bitwise report, we can extrapolate that Shrimpy is performing up to 1–2% of the entire Bitcoin spot market in trading volume!

However, we won’t go so far to make those claims as the numbers are just rough estimates. Even the Bitwise report mentions on several occasions that their report excludes a majority of crypto exchanges completely due to fake volume. While fake volume is a persistent problem in crypto, we cannot completely ignore ALL volume from these exchanges.

How is Shrimpy trading so much? The answer is simple. Our app is simple and easy to use. Unlike other automated trading bots, Shrimpy is beginner-friendly and doesn’t require trading knowledge or experience to set up. Users construct a simple crypto index portfolio by selecting their assets and appropriate allocations, and they’re set!

Why make it difficult for new crypto owners to manage their portfolio, especially in such a volatile and unpredictable market? By taking away the stress and need to actively manage crypto trades, Shrimpy gives crypto asset owners and traders piece of mind when it comes to managing their crypto future.

Shrimpy is on a bold mission to become the standard spot market trading solution for both basic and advanced traders. In our $250 Million milestone article, we mentioned our ambitious goal of integrating an additional 24 exchanges within the next year. However, we cannot just go to CoinMarketCap.com and start integrating exchanges based on trading volume. There must be a vetting process to identify which exchanges are not faking their volume. This ensures that any exchanges integrations that we support will be able to continue to drive Shrimpy’s momentum.