Cryptocurrency traded volume dries up in August

Quick Take

  • Traded volume on spot cryptocurrency exchanges hit a 5-month low of $55 billion in August
  • August seems to be the first month in the last three years when there is a significant discrepancy between volume and price
  • Coinbase, bitflyer, and Bitstamp have grown the fastest in 2019; Bitfinex and Bittrex the slowest
  • Based on both the falling spot and derivatives volume, the market doesn’t seem to be in the best shape at the moment
Cryptocurrency exchange trading volumes are perhaps the best indicator of the industry’s health, serving as the strongest gauge of interest in cryptocurrencies and bitcoin. While the price of the world’s largest cryptocurrency continues to hover around $10,000, legitimate trading volumes tell a different story, hitting a five-month low of $55 billion  in August. A 50% […]

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