19.6 C
New York

Market Analysis Report (15 Aug 2022)

Date:

Spot trading volumes across all centralized cryptocurrency exchanges dropped 1.34% in July to $1.39 trillion, the lowest monthly trading volume recorded in 20 months, since December 2020, when Bitcoin moved up from $19,000 to surpass the high it established in 2017 near $20,000.

Derivatives trading volumes have meanwhile surged 13.4% in July to $3.12 trillion, which means that the derivatives market now represents 69.1% of the total cryptocurrency market, up from 66.1% in June.

Bitcoin trading into fiat currency and stablecoins increased as investors seemingly continue to prefer safety under uncertain macroeconomic conditions. Meanwhile, digital asset exchange AAX saw its volume rise 26.5% to $57.2 billion, an all-time high for the platform.

Binance, FTX, OKX and Coinbase all saw declines in their trading volumes since the start of the year, falling 12.9%, 15.5%, 57.6%, and 57.2%, respectively. AAX was the only exchange in the top 15 that saw its volume grow since the beginning of 2022.

Find out more via CryptoCompare’s July 2022 Exchange Review.

  • Coinsmart. Europe’s Best Bitcoin and Crypto Exchange.Click Here
  • Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
  • - Advertisement -

  • Source: https://www.cryptocompare.com/email-updates/daily/2022/aug/15/

Related articles

spot_img

Recent articles

spot_img