Daily crypto trading volumes drop below the $10bn level last seen in 2020

Daily crypto trading volumes have not seen a low since 2020 during the Christmas holidays. The trading volume recorded on December 25 was less than $10B, which was last recorded on December 17, 2020.

Crypto Is Not On Santa’s Nice List For 2022

Crypto trading charts are not showing good signs during this festive season, as the daily crypto trading volume fell below $10 billion for the first time in two years. The daily transaction volume on 25 December declined to $9.2 billion from $8.5 billion on 27 December.

Bitcoin Trading at a near stable price of $16K. This has been going on for the last few weeks. binance smart chain tvl It has also fallen to a 19-month low as DeFi comes with a 78% market cap loss.

Daily crypto trading volume falls below the $10bn level last seen in 2020 - 1
Crypto markets are in the red on 27 December. Source: coin360.com

crypto bear bites hard

Crypto bears continue to bite as most coins lose value, and people withdraw their assets more frequently. bitcoin miners Many filing for bankruptcy and trying to keep their stock, property and crypto holdings afloat have also been majorly affected.

Crypto projects and platforms are also struggling to stay on their feet. are some filing for bankruptcyand all are falling Their TVL (Total Value Locked). This crypto winter has been one of the biggest winters in the industry, and there is still no end in sight.

The market did not recover as expected in May and October due to a series of FUD and large stakeholders ftx collapse, The only hope is the bitcoin halving scheduled for 2024. It has been observed that a major crypto rally occurs after the event.

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