{"id":7002,"date":"2023-06-19T10:27:02","date_gmt":"2023-06-19T10:27:02","guid":{"rendered":"https:\/\/www.bitcoincasinos.com\/?p=7002"},"modified":"2024-01-23T16:08:58","modified_gmt":"2024-01-23T16:08:58","slug":"crypto-monthly-exchange-volumes-shrunk-by-nearly-600-billion-in-the-last-year","status":"publish","type":"post","link":"https:\/\/www.bitcoincasinos.com\/blog\/2023\/06\/19\/crypto-monthly-exchange-volumes-shrunk-by-nearly-600-billion-in-the-last-year\/","title":{"rendered":"Crypto Monthly Exchange Volumes Shrunk by Nearly $600 Billion in the Last Year"},"content":{"rendered":"
<\/a><\/p>\n The crypto market was once characterized by exponential growth and record-breaking trading volume. However, it saw a considerable contraction in the last financial year. According to <\/span>BitcoinCasinos.com<\/span><\/a>, monthly crypto exchange volumes decreased by nearly $600 billion over the previous year.<\/span><\/p>\n Speaking on the data, BitcoinCasino’s Edith Reads said. “The decline in crypto monthly exchange volumes suggests the market faces significant challenges. However, it is important to note that the crypto industry is still evolving, and periods of consolidation and decline are not uncommon. Users and investors should collaborate to address these challenges for a better industry. By doing so, they can foster a more resilient and vibrant trading environment for cryptocurrencies in the future.”<\/span><\/p>\n The crypto market experienced heightened volatility and uncertainty. The situation lowered investor confidence leading to a decrease in trading activity. This resulted in a <\/span>reduction<\/span><\/a> in trading volumes as investors adopted a cautious approach. Averagely, crypto’s daily trading volume in May 2022 was about <\/span>$1820.47 Billion<\/span><\/a>. In May 2023, daily trading volume plummeted to around $ 1210.82 billion. Thus, representing a significant decline of approximately 33.48% in trading volumes over a year.<\/span><\/p>\nWhy the Decline?<\/b><\/h2>\n