Crypto Trading Volume Starts 2019 Depressed: Down to Minimums

Crypto Trading Volume Starts 2019 Depressed: Down to Minimums

It’s no a secret that the cryptocurrency market is depressed. Well, statistics now say it explicitly. Since the beginning of 2019, trading volumes on cryptocurrency exchange have declined to new multi-year lows according to a report published by digital currency and blockchain research company Diar.

According to the report, the trading volume in cryptocurrency exchanges is registering levels not seen since 2017. “Partly accounting for a lack of volatility so far this year, exchanges could be set to enter a new plateau after coming off a record breaking year.”

Diar highlighted that Coinbase BTC/USD volume dropped to around 1 billion, its lows below May 2017 and OKEx lost its 3-month growth streak with its first decline since September.

However, according to Diar, more remarkable is the hit suffered by Binance as the biggest cryptocurrency in the world in terms of trading volume saw a 40% decline in January versus December. Volume in Binance fell below the 4 billion dollars mark for the first time in several months.

“Notably, Binance has seen it’s Bitcoin/USD market slashed by over 40% versus December-18, marking the popular token exchange’s worst period since the now-largest exchange came to prominence in 2017,” the report says. “And while major exchanges did go into investment drive last year as they began seeding startups within the industry, it’s all a little fresh to bear any fruit.”

To find out more about Binance, click here to read the full review.

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