Cryptocurrency market appears to be in bad health as volumes tank by 60%

Quick Take

  • The average daily volume on both Binance and Coinbase is now at a six-month low after dropping 60% since peaking in June
  • While the interest currently appears to be decreasing, the prices are still standing steady, which is unprecedented
Cryptocurrency traded volumes are seeing a steep decline across the board. Legitimate trading volume was $55 billion in August; down from $111 billion in June. Looking at Binance and Coinbase, exchanges with the largest market share in terms of volume, the trend is only worsening. The average daily volume on both Binance and Coinbase is […]

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May 5, 2022, 3:17PM UTC