Daily spot market trading volume for crypto exchanges fell below $10 billion for the first time since December of 2020, according to The Block’s Data Dashboard.
Chart from The Block Crypto Data.
Spot trading volume fell to $9.2 billion on Dec. 25 before continuing its decline to $8.5 billion on Dec. 27.
The last time daily spot trading volume was below $10 billion was on Dec. 17, 2020, when the price of bitcoin had surged past $20,000 for the first time just the day before, The Block previously reported. Bitcoin trades now around $16,800.
NFT transactions have also fallen alongside crypto trades, with The Block data showing that NFT sales have decreased every month since April.
Chart from The Block Crypto Data.
Source: The Block
