We shared recently that the major crypto exchanges experienced “record transacting volumes” in 2018, regardless the wide crypto bear market felt last year and the increased scrutiny around the ecosystem — that indeed intimidated many traders.
However, 2019 is telling a different story.
Cryptocurrency exchanges entered the new year on a slower pace. According to an analysis published yesterday by Diar, a crypto and blockchain research company, trading volumes fell to new lows this last January — not registered since 2017.
It has been, in accordance with the study, the most harmful time for Binance, the world’s largest crypto exchange by adjusted trading volume, with its BTC/USD market shrinking by more than 40 percent when compared to December 2018.
And it was also not a walk in the park for other relevant crypto exchanges. Coinbase, the US’s major exchange, experienced lows (BTC/USD market) not recorded since May 2017 — and the Hong Kong-based OKEx lost a three-month growth trend in trading volume.
Was it just a phase? In the meanwhile you may check the analysis and some clear charts illustrating it here.
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