Global crypto-currency trading volume saw a significant drop in December 2022

On January 1, data shows that $22.95 billion was traded in the last 24 hours, compared to double that, or $54.78 billion, two weeks earlier. On November 8, 2022, 54 days before, at the time of FTX’s collapse, global crypto-currency trading volumes stood at about $115.33 billion.

Crypto-currency trading volume at the end of 2022 is 46% lower than the previous month.

Global crypto-currency trading volumes have decreased significantly since the beginning of the year. For example, on January 2, 2022, one year ago, the global trading volume for a 24-hour period was about $70.48 billion according to archived statistics from coingecko.com. Today, the global 24-hour volume is 67.43% lower at $22.95 billion. In addition, 71.63% of all transactions on January 1, 2023 were matched with stablecoins in the crypto-currency economy.

Read:  Cristina Fernandez says she did not notice the attack at the moment

While all stablecoins now account for $16.44 billion in trading volume, tether (USDT) commands $12.45 billion, which equates to 71.63% of the aggregate as of January 1, 2023. Two weeks ago, on December 15 $54.78 billion and a good majority of these trades were also in stablecoins. Crypto-currency trading volume has been on the decline since January 2022, with monthly peaks in May, September and November 2022.

The November spike occurred in the midst of the chaos surrounding the FTX insolvency, and daily trading volumes were significantly higher at that time. The Block’s crypto trading volume data (legitimate index) shows that October 2022 recorded a volume of $543.67 billion, while November 2022 saw an increase of about 23.79% to $673.01 billion. Now that Dec. 2022 is over, statistics show that the total volumes of Dec. 2022 were about $357.48 billion, which is 46.88% lower than the previous month.

Read:  NATO Kosovo Force monitors road clearance at border crossings

The last time global crypto-currency trading volumes were this low was two years ago, in December 2020. At that time, global crypto-currency trading volumes were 7.27% higher, at $385.51 billion. The decline in crypto-currency trading volumes can have both positive and negative implications for investors.

On the one hand, low trading volume is often seen as a sign of a lack of interest in the crypto-currency market, which could potentially indicate a decline in values. On the other hand, low trading volume can sometimes be interpreted as a bullish sign for the crypto-currency economy, as it may suggest limited selling pressure.

The Best Online Bookmakers on April 02 2023

BetMGM Casino

Bonus

$1,000