04-15-2025, 08:35 AM
Xapo Bank sees Bitcoin trading surge as wealthy investors bought the dip
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjM2YTYtZDljYS03MGE2LTg4YjMtMzEzMmMyYmVlNDll.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjM2YTYtZDljYS03MGE2LTg4YjMtMzEzMmMyYmVlNDll.jpg" alt="Xapo Bank sees Bitcoin trading surge as wealthy investors bought the dip"></p><p>Gibraltar-based Xapo Bank, a private bank and Bitcoin custodian, reported a surge in Bitcoin trading volumes in the first quarter as its high-net-worth members scooped up Bitcoin amid market turbulence. <p>Xapo Bank said that Q1 trading volume grew 14.2% compared to Q4 2024, as the Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) price drop helped drive trading volume growth on its platform. It said that during the decline, its high net-worth members “actively bought the dip,” reflecting these members’ “commitment to the long-term potential of Bitcoin.”</p><p>In the first quarter of 2025, Bitcoin had its <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/worst-q1-for-btc-price-since-2018-5-things-bitcoin-this-week" rel="null" target="null" text="null" title="null">worst start to a year</a> since 2018, closing the quarter down 13%. </p><p>The crypto-friendly bank <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/xapo-bank-interest-bearing-bitcoin-accounts-uk" rel="null" target="null" text="null" title="null">became the first</a> licensed bank to launch interest-bearing Bitcoin and fiat banking accounts in the UK in 2025 and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/xapo-bank-bitcoin-usd-loans-long-term-hodler" rel="null" target="null" text="null" title="null">launched Bitcoin-backed USD loans</a> of up to $1 million in March 2025.</p><figure><img alt="Xapo, Banking, Cryptocurrency Exchange, Trading" src="https://s3.cointelegraph.com/uploads/2025-04/0196374a-4eee-7535-8274-492f81e56f46" title=""><figcaption style="text-align: center;"><p><em>Xapo Bank’s self-selected poll on X showed respondents favored using Bitcoin for savings and investment. Source: </em><a data-ct-non-breakable="null" href="https://x.com/xapobankapp/status/1899478375032295614" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/xapobankapp/status/1899478375032295614"><em>Xapo Bank</em></a><em> </em></p></figcaption></figure><p>It also recorded a 50% quarter-on-quarter jump in euro deposits. “This rapid increase in volume came amidst mounting concern about the future of US dollar primacy and the threat of a US recession as markets braced for Trump’s planned ‘Liberation Day’ in April,” the bank said.</p><p>There were also significant shifts in Xapo members’ stablecoin deposit patterns, with USDC deposits up 19.8% in Q1 and Tether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tether-price-index" rel="null" target="null" text="null" title="null">USDT</a>) deposits down 13.4%. This shift comes as European cryptocurrency exchanges <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/binance-halt-spot-usdt-trading-eea-mica-compliance" rel="null" target="null" text="null" title="null">moved to delist Tether</a> in order to comply with Markets in Crypto-Assets Regulation regulations.</p><p>“Xapo Bank member data shows that despite short-term headwinds, the bigger picture for Bitcoin remains strong and current volatility does not diminish Bitcoin's importance,” said Gadi Chait, Xapo Bank’s head of investment. </p><p>Chait added that “while global events painted an erratic picture, the opportunity for Bitcoin has always been in its long-term performance, not its short-term volatility.”</p><p><em><strong>Related:</strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/inside-swiss-nuclear-bunker-s-secret-bitcoin-vault" rel="null" target="null" text="null" title="null"><em><strong> Exclusive: Inside a Swiss nuclear bunker’s secret Bitcoin vault</strong></em></a></p><h2>Crypto exchange Bitget also sees Q1 trading volumes surge</h2><p>Market turmoil also prompted a flurry of activity on digital currency exchange Bitget, <a data-ct-non-breakable="null" href="https://www.bitget.com/blog/articles/bitget-q1-2025-transparency-report" rel="null" target="null" text="null" title="null">according</a> to its Q1 2025 Transparency Report. </p><p>Bitget’s total trading volume hit $2.1 trillion in the first quarter of 2025, as spot trading volume saw a quarter-on-quarter increase of 159%, rising to $387 billion.</p><p>This surge in trading volume came as Bitget’s total user base grew by almost 20%, with the exchange adding an additional 4.89 million users on its centralized exchange and 15 million users on its Bitget Wallet app — bringing its total global user count to over 120 million.</p><p>Bitget’s CEO, Gracy Chen, said the exchange will continue to “focus on institutional-grade infrastructure and double down on expanding its Web3 presence through our ecosystem.”</p><p>In February, Bitget <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bybit-repays-bitget-loan-after-hack" rel="null" target="null" text="null" title="null">loaned rival exchange Bybit</a> 40,000 ETH, valued at approximately $100 million, after Bybit suffered a major hack. The loan has since been fully repaid by Bybit.</p><p>“No interest, no collateral — this was simply about supporting a peer in need. Great to see Bybit fully recovered, and we never doubted the return of the loan,” Chen said. </p><p><em><strong>Magazine:</strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-100k-price-target-shaquille-oneal-nft-synthetix-hodlers-digest/" rel="null" target="null" text="null" title="null"><em><strong> Bitcoin eyes $100K by June, Shaq to settle NFT lawsuit, and more: Hodler’s Digest, April 6 – 12</strong></em></a></p><template data-name="subscription_form" data-type="defi_newsletter" label="Subscription Form: DeFi Newsletter"></template></p>
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https://cointelegraph.com/news/xapo-bank...er_inbound
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjM2YTYtZDljYS03MGE2LTg4YjMtMzEzMmMyYmVlNDll.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjM2YTYtZDljYS03MGE2LTg4YjMtMzEzMmMyYmVlNDll.jpg" alt="Xapo Bank sees Bitcoin trading surge as wealthy investors bought the dip"></p><p>Gibraltar-based Xapo Bank, a private bank and Bitcoin custodian, reported a surge in Bitcoin trading volumes in the first quarter as its high-net-worth members scooped up Bitcoin amid market turbulence. <p>Xapo Bank said that Q1 trading volume grew 14.2% compared to Q4 2024, as the Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) price drop helped drive trading volume growth on its platform. It said that during the decline, its high net-worth members “actively bought the dip,” reflecting these members’ “commitment to the long-term potential of Bitcoin.”</p><p>In the first quarter of 2025, Bitcoin had its <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/worst-q1-for-btc-price-since-2018-5-things-bitcoin-this-week" rel="null" target="null" text="null" title="null">worst start to a year</a> since 2018, closing the quarter down 13%. </p><p>The crypto-friendly bank <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/xapo-bank-interest-bearing-bitcoin-accounts-uk" rel="null" target="null" text="null" title="null">became the first</a> licensed bank to launch interest-bearing Bitcoin and fiat banking accounts in the UK in 2025 and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/xapo-bank-bitcoin-usd-loans-long-term-hodler" rel="null" target="null" text="null" title="null">launched Bitcoin-backed USD loans</a> of up to $1 million in March 2025.</p><figure><img alt="Xapo, Banking, Cryptocurrency Exchange, Trading" src="https://s3.cointelegraph.com/uploads/2025-04/0196374a-4eee-7535-8274-492f81e56f46" title=""><figcaption style="text-align: center;"><p><em>Xapo Bank’s self-selected poll on X showed respondents favored using Bitcoin for savings and investment. Source: </em><a data-ct-non-breakable="null" href="https://x.com/xapobankapp/status/1899478375032295614" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/xapobankapp/status/1899478375032295614"><em>Xapo Bank</em></a><em> </em></p></figcaption></figure><p>It also recorded a 50% quarter-on-quarter jump in euro deposits. “This rapid increase in volume came amidst mounting concern about the future of US dollar primacy and the threat of a US recession as markets braced for Trump’s planned ‘Liberation Day’ in April,” the bank said.</p><p>There were also significant shifts in Xapo members’ stablecoin deposit patterns, with USDC deposits up 19.8% in Q1 and Tether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tether-price-index" rel="null" target="null" text="null" title="null">USDT</a>) deposits down 13.4%. This shift comes as European cryptocurrency exchanges <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/binance-halt-spot-usdt-trading-eea-mica-compliance" rel="null" target="null" text="null" title="null">moved to delist Tether</a> in order to comply with Markets in Crypto-Assets Regulation regulations.</p><p>“Xapo Bank member data shows that despite short-term headwinds, the bigger picture for Bitcoin remains strong and current volatility does not diminish Bitcoin's importance,” said Gadi Chait, Xapo Bank’s head of investment. </p><p>Chait added that “while global events painted an erratic picture, the opportunity for Bitcoin has always been in its long-term performance, not its short-term volatility.”</p><p><em><strong>Related:</strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/inside-swiss-nuclear-bunker-s-secret-bitcoin-vault" rel="null" target="null" text="null" title="null"><em><strong> Exclusive: Inside a Swiss nuclear bunker’s secret Bitcoin vault</strong></em></a></p><h2>Crypto exchange Bitget also sees Q1 trading volumes surge</h2><p>Market turmoil also prompted a flurry of activity on digital currency exchange Bitget, <a data-ct-non-breakable="null" href="https://www.bitget.com/blog/articles/bitget-q1-2025-transparency-report" rel="null" target="null" text="null" title="null">according</a> to its Q1 2025 Transparency Report. </p><p>Bitget’s total trading volume hit $2.1 trillion in the first quarter of 2025, as spot trading volume saw a quarter-on-quarter increase of 159%, rising to $387 billion.</p><p>This surge in trading volume came as Bitget’s total user base grew by almost 20%, with the exchange adding an additional 4.89 million users on its centralized exchange and 15 million users on its Bitget Wallet app — bringing its total global user count to over 120 million.</p><p>Bitget’s CEO, Gracy Chen, said the exchange will continue to “focus on institutional-grade infrastructure and double down on expanding its Web3 presence through our ecosystem.”</p><p>In February, Bitget <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bybit-repays-bitget-loan-after-hack" rel="null" target="null" text="null" title="null">loaned rival exchange Bybit</a> 40,000 ETH, valued at approximately $100 million, after Bybit suffered a major hack. The loan has since been fully repaid by Bybit.</p><p>“No interest, no collateral — this was simply about supporting a peer in need. Great to see Bybit fully recovered, and we never doubted the return of the loan,” Chen said. </p><p><em><strong>Magazine:</strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-100k-price-target-shaquille-oneal-nft-synthetix-hodlers-digest/" rel="null" target="null" text="null" title="null"><em><strong> Bitcoin eyes $100K by June, Shaq to settle NFT lawsuit, and more: Hodler’s Digest, April 6 – 12</strong></em></a></p><template data-name="subscription_form" data-type="defi_newsletter" label="Subscription Form: DeFi Newsletter"></template></p>
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https://cointelegraph.com/news/xapo-bank...er_inbound