The Block: UK Financial Turmoil Leads to Surge in Bitcoin and Ethereum Trading Pairs with GBP

According to The Block, the recent plunge in British government bonds and the British pound has led to a surge in the trading volume of Bitcoin and Ethereum against the British pound. According to The Block data, the BTC/GBP and ETH/GBP trading pairs on Bitfinex have recently seen a substantial increase, and the single-day trading volume of the exchanges in the statistics has exceeded 40,000 Bitcoins and over 170,000 Ethereums. New highs in the past three years. Larry Cermak, vice president of research at The Block, said that the data anomaly may not be that users are buying cryptocurrencies or selling pounds, but that market makers and traders may be conducting arbitrage transactions.