Cryptocurrency trading volume fell for the first time in seven months last month to $6.58 trillion
ChainCatcher report from digital asset data provider CCData shows that the cumulative trading volume in spot and derivatives markets has decreased by 43.8% to $6.58 trillion, significantly dropping from the record high of $9.12 trillion in March, marking the first decline in seven months.
Activity in futures and options markets dropped by 47.6% to $4.57 trillion. Spot market trading volume relatively moderately declined by 32.6%, reaching $2.01 trillion.
CCData stated: "This decline occurred following unexpected macroeconomic data, escalating geopolitical crises in the Middle East, and negative net inflows into US spot Bitcoin ETFs, causing major crypto assets to retreat from their gains made in March."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
CME Group to launch Solana futures as Bitcoin Pepe’s presale hits $3.65m
Spot Bitcoin ETFs See $90M in Inflows After 8-Day Outflow Streak
The reversal follows a turbulent period that saw significant capital exits from Bitcoin ETFs, including a staggering $754.53 million outflow on February 26.
SEC Commissioner Caroline Crenshaw Dissents on Meme Coin Non-Security Ruling
Crenshaw argued that meme coins could meet the Howey test’s criteria.
Ethereum Researcher Proposes Shared Random Algorithm to Decentralize Block Building
The proposal suggests implementing a shared random algorithm to eliminate Maximal Extractable Value (MEV) at the block level and distribute block construction more equitably across the network.
Trending news
MoreCrypto prices
More
