Spot market trading falls to lowest level since late 2020

The Bitcoin Volatility Index is at a four-year low as investor activity has been waning since mid-December.

The daily trading volume of digital currencies has also been declining over the past few days, according to The Block.

For two weeks, the daily turnover of cryptocurrencies has remained below $10 billion, the lowest level since December 2020.

Analysts note that if on December 24 the amount of transactions with digital assets fell to $9.91 billion, then on December 27 it decreased to $8.53 billion.

Trader activity picked up in 2021 and remained strong in 2022. The average daily trading volume on the spot market ranged from $15 billion to $30 billion.

In addition, The Block portal indicates a drop in tokenized collections (NFT) trading.

User interest in the NFT market has been falling since April 2022. If at the end of that month the amount of transactions with collection tokens exceeded $4 billion, then in December it collapsed to $500 million.



Comments (No)

Leave a Reply