Luno is a well-established global cryptocurrency platform that enables users to buy, sell, and store digital assets securely. With a presence in over 40 countries, it emphasizes regulatory compliance, security, and user education. This article examines Luno's trading volume, market listings, and key features.
Understanding Luno’s Trading Metrics
Luno's 24-hour trading volume provides insight into its market activity and liquidity. High trading volumes often indicate a healthy exchange with active user participation.
Key Volume Statistics:
- 24h Trading Volume: $10,501,755.12
- Volume in BTC: 96 BTC
These figures represent the total value of all trades conducted on the platform in the last 24 hours. Volume is a critical metric for traders as it affects order execution speed and price slippage.
Available Cryptocurrency Markets on Luno
Luno offers a diverse range of trading pairs, primarily focusing on major cryptocurrencies against various fiat currencies. The most active markets typically involve Bitcoin (XBT), Ethereum (ETH), XRP, Litecoin (LTC), and Bitcoin Cash (BCH).
Top Trading Pairs by Volume:
The platform's liquidity is concentrated in a few key markets. The following pairs have shown significant activity:
- XBT/ZAR (Bitcoin/South African Rand): This is often the highest-volume pair on Luno, highlighting its strong user base in South Africa.
- XBT/MYR (Bitcoin/Malaysian Ringgit): Another major fiat pair, demonstrating Luno's adoption in Southeast Asia.
- XRP and ETH Markets: Both XRP and Ethereum pairs with MYR and ZAR also contribute substantially to the total volume.
This diversity allows users from different regions to access crypto markets using their local currency. 👉 Explore real-time market data
A Closer Look at Luno’s Features and Security
Founded in 2013, Luno has built a reputation as a reliable and secure gateway into the cryptocurrency world. Its mission is to put the power of crypto in everyone's hands sensibly and responsibly.
Core Principles:
- Security First: Luno states that it stores all cryptocurrency assets on a 1:1 basis, meaning user funds are fully backed. They employ rigorous security processes and technical standards to protect investments.
- Regulatory Compliance: The platform works closely with regulators in all of its 40+ operating countries to ensure full compliance, which fosters a safe and trustworthy environment for users.
- Accessibility: Luno provides a user-friendly experience through its mobile apps (iOS and Android) and desktop platform, making it easy for beginners to start their crypto journey.
Factors Influencing Trading Volume on an Exchange
An exchange's trading volume is not a static number; it fluctuates based on several factors. Understanding these can provide context to the metrics.
Common Influencers Include:
- Overall Market Sentiment: During bull markets or periods of high volatility, trading activity typically surges across all platforms.
- Platform-Specific Events: The listing of a new, popular cryptocurrency or the launch of a new feature can attract users and increase trading.
- Regional Adoption: As seen with Luno's ZAR and MYR pairs, strong adoption in specific geographic regions can drive volume for particular trading pairs.
Frequently Asked Questions
What cryptocurrencies can I trade on Luno?
Luno supports several major digital assets, including Bitcoin (XBT), Ethereum (ETH), XRP, Litecoin (LTC), and Bitcoin Cash (BCH). These can be traded against various fiat currencies like the South African Rand (ZAR), Malaysian Ringgit (MYR), and others.
How does Luno ensure the security of my funds?
Luno emphasizes security by storing all crypto assets on a 1:1 basis and adhering to stringent legal and technical security standards. They work with regulators to ensure compliance and provide a secure platform for buying, selling, and storing cryptocurrency.
Why is the trading volume for some pairs listed as zero or an outlier?
Some trading pairs may have zero volume because there have been no recent trades. Outlier detection flags pairs where a single trade might distort the price or volume data, providing a more accurate view of typical market activity.
Is Luno available in my country?
Luno operates in over 40 countries worldwide, with a significant presence in Europe, Africa, and Southeast Asia. You will need to check their official website or app to see if your specific country is supported for full trading services.
How do I start trading on Luno?
To begin, you need to create an account, complete the required identity verification (KYC), deposit funds (either fiat currency or crypto), and then you can place buy or sell orders on the available markets.
What is the importance of a 2% market depth?
The +2% and -2% depth metrics show the buy and sell order liquidity around the current price. This depth indicates how much volume is needed to move the market price up or down by 2%, which is crucial for traders executing large orders. 👉 Get advanced trading insights
Conclusion
Luno establishes itself as a significant player in the cryptocurrency exchange landscape, particularly in specific regional markets. Its strong focus on security, compliance, and user education makes it a trusted choice for millions of users globally. While its trading volume is a key indicator of liquidity, the platform's true value lies in its commitment to providing a safe and accessible environment for exploring digital assets.