Lowest Trading Volume on Exchanges – Where are Bulls?
Diar a crypto and blockchain research firm published a report that shows that trading volume on exchanges is at it’s lowest point since 2017.
2018 was not a good year for the whole crypto market. Crypto Market hit very hard earlier in 2018 and Bitcoin (BTC) make a new yearly low of $6100 on 6 Feb.
Crypto market shows little upward movement is May 2018 and crossed the milestone of $10000 only for a few hours and continues to make higher highs and lower lows.
$6000 becomes a very good support for 2018 and tested thrice before it breaks down.
On November 15, 2018, there is a massive drop in Bitcoin (BTC) price due to the mining hashrate competition between BitcoinCash ABC (BCHABC) and BitcoinCash SV (BSV) owners.
Bitcoin (BTC) continues the drop and makes a new yearly low of $3100 on 15 Dec 2018. Currently, Bitcoin (BTC) is trading at $3456.
Investors are hurt badly from the crypto market crash. In the same way, crypto exchanges are also facing problems like low trading volumes and less number of users.
As per the report published by Diar Coinbase hit the lowest trading volume of the pair BTC/USD since May 2017.
One of the biggest and most famous Exchange Biance also see a decline of 40% compared to December 2018.
The only crypto exchange that shows some strength in this bear market is OKEx which is based in Hong Kong.
Many exchanges are now showing false volumes according to a report published by Blockchain Transparency Institute (BTI). Exchanges like HitBtc, Huboi and Cryptopia are using wash trading to increase trading volume.
As a result of low trading volume, Liqui exchange will shut down next month.
Diar reports show that the on-chain transactions for the third largest cryptocurrency by market cap, Ethereum (ETH) hit an all-time high reaching 115 Million.
Dair stated, “In terms of transaction count on-chain the ‘supercomputer’ has found stability since October bobbing between 16–17 million monthly transactions.”
Long Bitcoin Short the Bankers
