By CCN: Although its volume is excluded, BitMAX reported over $2.5 billion in trades between Paxos Standard and USDT in the 24 hours at the time of writing. One Exchange Reports over 10x Market Cap Traded This is an absurd amount of money changing hands, with some entering USDT and others leaving it. By comparison, Binance’s BTC/PAX market was around $29 million. Most markets were far less than this. As a whole, Paxos Standard reports a market capitalization of $166 million. Therefore the tokens on the exchange would have had to change hands numerous times. Likely, BitMAX engages in transaction
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