Russia Today on Nostr: Activity on crypto exchanges plummets to lowest since 2020 The crypto market downturn ...
Activity on crypto exchanges plummets to lowest since 2020
The crypto market downturn have led to one of the most inactive months in digital asset trading in years, The Block reported.
Monthly crypto trading volumes reached their lowest monthly level since October 2020, with spot volumes across major trading venues just under $424 billion in May.
This is far less than May 2022 and May 2021, when monthly volumes were $1.4 trillion and $4.25 trillion, respectively.
The torpid trading activity in digital assets is due to a retreat of large trading firms from the market as well as a shift to decentralized trading venues.
In addition, crypto volatility is also trending downward in correction mode after hitting a one-year high in March, serving as another factor for the decline in trading volumes.
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The crypto market downturn have led to one of the most inactive months in digital asset trading in years, The Block reported.
Monthly crypto trading volumes reached their lowest monthly level since October 2020, with spot volumes across major trading venues just under $424 billion in May.
This is far less than May 2022 and May 2021, when monthly volumes were $1.4 trillion and $4.25 trillion, respectively.
The torpid trading activity in digital assets is due to a retreat of large trading firms from the market as well as a shift to decentralized trading venues.
In addition, crypto volatility is also trending downward in correction mode after hitting a one-year high in March, serving as another factor for the decline in trading volumes.
Follow on https://obo.sh/@russiatoday **Russian Market**
#russia #news #freedom