Transaction volume decreased by 40% month-on-month due to sluggish Bitcoin prices
CryptoCompare's June 2021 report, which summarizes cryptocurrency transaction information, reports that the transaction volume has decreased by more than 40% from the previous month due to the continued slump in Bitcoin prices.
Exchange Review June 2021
Bitcoin price drop: Cryptocurrency trading volume plunges as interest wanes
In June 2021, Bitcoin closed at a monthly low of $ 28,908. The rate of decline is 6%, and according to a report by CryptoCompare, trading volumes have decreased by more than 40% on exchanges such as Coinbase, Kraken, Binance, and Bitstamp.
It has been pointed out that the cause of the decrease in transaction volume is the decline in prices and the decrease in price fluctuation range (volatility), and it is believed that the impact of mining crackdowns in China is significant.
How much has China's significant tightening of regulations affected Bitcoin? --GIGAZINE
However, market experts also say, 'Since the stock market may decrease in trading volume in the summer, the cryptocurrency market may just be doing the same.'
In addition, even though the transaction volume decreased by 40% from the previous month, the June figure is also the top 5 among the transaction volumes recorded in the past, partly because the transaction volume in May 2021 was particularly large. It has been pointed out that it is a number that can be entered, and that it is still large compared to the number for 2020.
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in Note, Posted by logc_nt