LBank sees daily TradFi trading volume exceed $3 billion

Crypto exchange LBank has released its weekly highlights. Daily trading volume on TradFi futures exceeded the $3 billion mark for the first time in August, while several meme coins on the platform showed extreme price swings. At the same time, LBank is further expanding its payment infrastructure and receiving positive assessments from external parties.

In brief:

• Average daily TradFi trading volume grew 74% month on month and reached a record level of $3 billion per day.
• Meme coin PONS achieved a peak gain of 30.453% on LBank, partly thanks to attention surrounding Robinhood Chain.
• CryptoNews and Traders Union give LBank positive assessments in the areas of regulation and security.

Record volume in traditional markets

LBank reports that daily trading volume on its TradFi futures division exceeded $3 billion in August, a milestone the platform says it had not reached before. Average daily volume rose 74% compared with the previous month, while the number of active traders increased 14%.

The platform now supports 288 TradFi futures pairs, spread across gold, US equities, indices and other markets. LBank says it will continue building the connection between crypto and traditional financial markets.

Meme coins with extreme price swings

The attention surrounding Robinhood Chain also produced striking moves on LBank. Meme coin PONS reached a peak gain of 30.453% on the platform. Of all the meme coins LBank has listed this year, four reached a price increase of more than 100x: PONS, AI1, STONK and PENGUIN.

In total, LBank listed 110 meme coins this year. Of those, 37 at some point reached an increase of more than 10x and 67 an increase of more than 5x, measured by peak price. The platform does not state how sustainable those gains are.

Payments and external recognition

LBank also launched the Cash Payment Challenge, an initiative around LBank Card and LBank Pay with which the platform aims to encourage users to use crypto for everyday payments. According to the company, paying and spending with crypto are just as important as trading for broader adoption.

In terms of external assessments, LBank notes that CryptoNews included the platform in an overview of exchanges without mandatory KYC verification. Traders Union adjusted its rating to 8.08 out of 10, with a maximum score of 10 out of 10 for regulation and security. In addition, data from CoinGlass shows that LBank took first place in 24-hour futures trading volume for SHIB, with a volume of $16.2 million.