The analysis shows that trading volumes on crypto exchanges have reached a new low point and this is the lowest one since 2017 if we are to compare with the previous analysis that we have written about in our crypto news.
Since 2019 has started, the exchanges show low trading volumes that have never been recorded since 2017. The blockchain company Diar that worked on the analysis notes that this is the worst period for crypto exchanges especially for the largest ones such as Binance since its BTC/USD marked almost halved in comparison to last year.
As for Coinbase, its BTC/USD market is also experiencing new lows and Hong Kong’s OKEx lost its three-month growth trend in trading volume sinking below $4 billion mark.
Binance CEO Chengpeng Zhao said in November 2018 that the company is not concerned about the low trade volumes but then also said that Binance has a tenth of the trading volume that was reported in January 2018 but its still trading above volumes from three years ago.
According to another report by the Blockchain Transparency Institute, the majority of the top BTC trading pairs listed on CoinMarketCap are based on inflated and false volumes. BTI also analyzed Bithumb as to having a ‘’large amount’’ of wash trading mainly with Monero and ZCash.
Diar release another report analyzing the on-chain transaction value of Ethereum and shows that it hit an all-time high in December 2018 reaching 115 million.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com
Discussion about this post