Cybersecurity
Crypto Trading Volume Slows, Boding Ill for Exchanges
- Total spot volumes hit lowest level since December 2020
- Exceptionally quiet, fearsome, uncertain time in crypto: Hindi
Photographer: Tiffany Hagler-Geard/Bloomberg
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During the brutal cryptocurrency selloff last month, volumes also tumbled -- a development that doesn’t bode well for exchanges that trade the digital tokens.
Total spot volume slumped to $1.8 trillion in January, a decline of more than 30% from the previous month, according to a report from CryptoCompare. That was the lowest turnover since the end of 2020. Even at its intra-month peak of $91 billion on Jan. 24, trading was down nearly 50% from December.