eToro, Pepperstone, and Axi Report Major Crypto Trading Surge

eToro, Pepperstone, and Axi report massive crypto trading surge, driven by the US election and growing retail interest in Bitcoin and altcoins.

Crypto trading platforms have experienced a significant uptick in activity following Donald Trump’s election victory.

In a remarkable surge of retail crypto trading, eToro, Pepperstone, and Axi have all reported substantial increases in their trading volumes, particularly in Bitcoin, following the US Presidential election results. These platforms are capitalizing on growing retail investor interest driven by heightened market volatility and a favorable stance on cryptocurrencies by newly elected President Donald Trump.

eToro Sees Quadrupled Bitcoin Trading Volume

eToro, a global trading platform offering CFDs and physical crypto assets, revealed an astonishing 300% increase in Bitcoin trading volume during the first two weeks of November compared to October. Retail investors are seizing the opportunity to enter or increase their positions in the digital currency, attributing the surge to the election-induced market rally.

Simon Peters, eToro‘s Crypto Analyst, commented, “The rise in Bitcoin trading volume shows a clear trend of larger investment amounts, as more investors buy Bitcoin. We’re also seeing a 100% increase in closed positions as investors take profits amid the rally.”

Pepperstone and Axi See Triple-Digit Growth

Australia-based Pepperstone also saw a dramatic increase in crypto trading activity post-election, with crypto CFD volumes more than tripling. The broker’s Head of Research, Chris Weston, noted that while altcoins such as Dogecoin and Cardano saw significant price fluctuations, Bitcoin remained the dominant asset, with a 40% price jump following the election.

Pepperstone‘s Bitcoin positioning continues to favor long strategies, with more than 70% of client positions remaining long, reflecting a continued optimism toward Bitcoin’s price potential. Weston added, “Bitcoin’s superior liquidity and the leverage offered in crypto CFDs have made it the preferred choice for traders.”

eToro, Pepperstone, and Axi Report Major Crypto Trading Surge

Meanwhile, Axi, a global forex broker, confirmed a 92% increase in trading volumes following November 10, continuing a trend that began before the election. Axi‘s daily average trading volume surged from $448 million to over $892.6 million, underscoring the rising demand for crypto CFDs after Trump’s victory.

The surge in crypto positions on Axi was even more dramatic, with open positions increasing by up to 13 times. Louis Cooper, Axi‘s Chief Commercial Officer, emphasized that the surge reflects a shift towards diversification amid ongoing uncertainty surrounding traditional asset classes.

The Rise of Two-Way Trading

The election rally boosted long Bitcoin positions and led to a notable increase in two-way trading. Axi observed an uptick in clients actively managing their positions, shifting between buying and selling. This dynamic trading environment suggests that investors are adjusting strategies in response to market opportunities and the volatility of election news.

Pepperstone‘s Chris Weston echoed this sentiment, pointing to the growing interest in long and short strategies among its clients. He explained, “While most clients are still focused on Bitcoin, we’re beginning to see more traders shorting Bitcoin as it nears the $90k mark, driven by the belief that the market has overextended itself.”

Institutional and Retail Investors Drive Demand

The surge in demand for Bitcoin and other cryptocurrencies is not limited to retail investors. Institutional interest has also played a role, with companies like Michael Saylor’s MicroStrategy continuing to accumulate Bitcoin during its price rally. On the retail side, eToro‘s Peters reported that more investors are joining the platform, further contributing to the growth in crypto trading.

Axi’s Cooper noted a sharp rise in new clients trading crypto CFDs since the election, with the number of active crypto traders on the platform up by 200%. He highlighted that this reflects a growing appeal of cryptocurrencies as a speculative asset, particularly as the price of Bitcoin approaches new all-time highs.

Increased Trading Activity Across All Platforms

In addition to higher trading volumes, the platforms are also seeing a shift in trading behavior. Rania Gule, Senior Market Analyst at XS.com, observed a change in how users are approaching crypto. “Post-election, we’re seeing a trend where retail investors are more inclined to adopt a buy-and-hold strategy for crypto while still actively trading stocks,” Gule said, emphasizing the broader interest in long-term crypto investments and shorter-term stock trading.

Operational Challenges Amid Rising Demand

However, the dramatic surge in crypto trading volumes is not without its challenges. Platforms have had to scale their infrastructure to accommodate the increase in trading activity. Axi‘s Cooper acknowledged the operational strain, stating that the company has had to expand server capacity and increase customer support resources to handle the influx of new users and inquiries related to crypto trading.

“Managing liquidity has been a key focus for us,” Cooper added. “With more demand, we’ve had to onboard additional liquidity providers to maintain tight spreads and ensure efficient trade execution.”

In contrast, eToro, also preparing for an upcoming public listing, reported no major operational challenges despite the increased trading demand. The platform attributed its smooth operations to its established infrastructure, which was designed to handle such spikes in activity.

Conclusion

As the US election results continue to ripple through global markets, platforms like eToro, Pepperstone, and Axi are reaping the benefits of heightened investor activity in cryptocurrencies. Bitcoin’s rally to a new record high of $93,400, fueled by Trump’s pro-crypto policies, has solidified its position as the centerpiece of retail crypto trading. Whether driven by speculative interest or a desire for diversification, the demand for crypto assets shows no signs of slowing, with platforms continuing to see substantial growth in trading volume and new account sign-ups.

The surge in trading volume also reflects broader trends in investor behavior, with a marked shift towards cryptocurrencies as both a short-term speculative asset and a long-term store of value. As the crypto market continues to evolve, it remains to be seen how platforms and traders will adapt to the challenges and opportunities that lie ahead.

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