If in June the trading volume on “full-fledged” cryptocurrency exchanges amounted to $ 111 billion, then in August this figure fell by half – to $ 55 billion.
On the most liquid exchanges, such as Binance and Coinbase, the situation is even more depressing – the average daily trading volume on these platforms reached a six-month low, falling 60% after a peak in June.
This trend indicates not very good market conditions. Trading volume has always been an indicator of interest in cryptocurrencies. However, despite the decrease in this indicator, the price of bitcoin is kept at the same level, which is very unusual for the first cryptocurrency.
The futures market has a similar picture. Futures for bitcoin on the Chicago Mercantile Exchange (CME) many times fell into the headlines of the world’s leading media, as they showed record trading volumes. However, this week on the exchange there is minimal activity of traders over the past four months.
Note that just a few days ago the long-awaited launch of the Bakkt platform will take place, which will provide deliverable bitcoin futures to institutional investors. Perhaps this tool will return the interest of market participants in digital assets. The VanEck SolidX Bitcoin Trust Trust has been around for several weeks, but raised a little over $ 40,000, with the entire amount invested in the early days.
Recently it was reported that, according to Google Trends, interest in bitcoin has been declining over the past three months.
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