Bitcoin trading volume on all exchanges in August dropped to 112,317 BTC on August 12. The indicator has reached its lowest level since November 10, 2018. In this respect he is writing CNBC, with reference to statistics from the analytical platform CryptoQuant.
As of August 26, the trading volume had increased to 129,307 BTC. The trading volume is now almost 94% less than the March record of 3.5 million BTC.
“Trading volumes are falling in bear markets (a situation where equity markets have lost more than 20% of their previous highs – socialbites.ca) as retail investors leave,” said Julio Moreno, head of research at CryptoQuant.
According to him, this has happened with most crypto exchanges in the past year. Moreover, CNBC writes that this trend is also influenced by the US regulatory measures regarding cryptocurrencies as the banking crisis ended in May. Together, these factors led to the exit of market makers and traders.
august 18 bitcoin price went down The price of the first cryptocurrency on the Binance cryptocurrency exchange, which fell below $ 25 thousand in the stock market, fell by 9 percent. Ethereum (ETH), another popular cryptocurrency, fell 11% to around $1,600. CoinDesk explained that this occurred amid US interest rates hitting their highest levels in several years.
In June, Nassim Taleb, a US Lebanese former stockbroker and bestselling author of The Black Swan, criticized the cryptocurrency industry, saying that Bitcoin is not a salvation for people and cannot even serve as a way to launder money.
Since Saturday, August 26, the Binance crypto exchange has restricted Russians from trading in any currency other than the ruble through the Binance P2P service (peer-to-peer, “person to person”).
Russian miner named The four effects of this restriction on Binance.