Businessnewshubb
Advertisement
  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us
No Result
View All Result
  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us
No Result
View All Result
Businessnewshubb
No Result
View All Result
Home Markets

Global Cryptocurrency Trade Volumes Saw a Significant Decline in December 2022 – Market Updates Bitcoin News

January 1, 2023


According to statistics, daily cryptocurrency trade volumes have dropped significantly during Dec. 2022. On Jan. 1, data shows that $22.95 billion was traded in the last 24 hours, compared to double that amount, $54.78 billion, two weeks earlier. On November 8, 2022, 54 days prior, amid the FTX collapse, global cryptocurrency trade volumes were approximately $115.33 billion.

Crypto Trade Volumes End 2022 46% Lower Than the Month Prior

Cryptocurrency trade volumes worldwide have significantly declined since the beginning of the year. For example, on Jan. 2, 2022, one year ago, the global trade volume for the 24-hour period was approximately $70.48 billion, according to archived coingecko.com statistics. Today’s 24-hour volume worldwide is 67.43% less at $22.95 billion. In addition, 71.63% of all trades on Jan. 1, 2023, were paired with the cryptocurrency economy’s stablecoins.

While all the stablecoins today represent $16.44 billion in trade volume, tether (USDT) commands $12.45 billion, which equates to 71.63% of the aggregate on Jan. 1, 2023. Two weeks ago on Dec. 15, the global trade volume was $54.78 billion and a good majority of those trades were in stablecoins as well. Cryptocurrency trade volumes have been declining since Jan. 2022, with monthly spikes in May, Sept., and Nov. 2022.

The November spike occurred amid the chaos surrounding FTX’s insolvency, and there were significantly higher daily trade volumes at that time. Data from The Block’s crypto exchange volume (legitimate index) shows that Oct. 2022 had $543.67 billion in volume, while Nov. 2022 saw an increase of approximately 23.79% to $673.01 billion. Now that Dec. 2022 is over, statistics show that Dec. 2022’s total volumes were around $357.48 billion, or 46.88% lower than the previous month.

The last time global cryptocurrency trade volumes were this low was two years ago in December 2020. At that time, global crypto trade volumes were 7.27% higher at $385.51 billion. Lower cryptocurrency trade volumes can have both positive and negative implications for investors.

On one hand, low trade volume is often seen as a sign of a lack of interest in the crypto market, which could potentially indicate lower values. On the other hand, low trade volume can sometimes be interpreted as a bullish sign for the cryptocurrency economy, as it may suggest limited selling pressure.

Tags in this story
2022, 24 hours, 24-hour period, aggregate, Bullish, coingecko.com, Crypto, Crypto Exchange Volume, crypto trade volumes, Cryptocurrency, cryptocurrency trade volumes, daily trade volumes, data, December, December 2020, decline, FTX insolvency, Global, implications, Investors, Jan. 1, lack of interest, limited selling pressure, lower values, May, monthly spikes, November, November 8, September, Stablecoins, Tether, Trade Volumes, USDT

What do you think about the decline in crypto trade volumes during the last month of 2022? Let us know your thoughts about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Previous Post

Takeaways from Paris and LA • TechCrunch

Next Post

S|W: The SaaS Weekly – John Carmack is leaving Meta

Next Post

S|W: The SaaS Weekly – John Carmack is leaving Meta

How we covered the creator economy in 2022 • TechCrunch

Report Shows Financial Troubles Plagued Bankman-Fried’s Alameda Research as Early as 2018 – Bitcoin News

25 Mompreneur Tips to Excel at Business and Family Life » Succeed As Your Own Boss

Vector Health Labs acquires AI-driven mental health tech startup Get A-Head

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Even as cloud infrastructure market growth slows, Microsoft continues to gain on Amazon • TechCrunch

by admin
February 6, 2023

It was a rough quarter for the cloud infrastructure market as companies looked for ways to cut back on spending...

Mark Usher named CIBC Innovation Banking lead after Mark McQueen announces departure

by admin
February 6, 2023

Usher follows in footsteps of former Wellington Financial colleague Mark McQueen, who is leaving for other endeavors. CIBC Innovation Banking...

10 E-commerce Strategies to Weather an Economic Downturn » Succeed As Your Own Boss

by admin
February 6, 2023

According to Bloomberg’s December 2022 survey, economists say there is a 70 percent chance that the US will experience a...

More Than 7,000 Ordinals Inscriptions Have Already Been Included on the Bitcoin Blockchain – Bitcoin News

by admin
February 6, 2023

Ordinals inscriptions, viewed as a kind of Bitcoin-native NFTs, are picking up steam among some Bitcoin circles, even though the...

business-news-hubb-white

© 2022 Business News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Categories

  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us

Newsletter Sign Up.

No Result
View All Result
  • Home
  • World
  • Business News
  • Markets
  • Startup
  • Contact Us

© 2022 Business News Hubb All rights reserved.