As the period of stagnation continues to pressure the majority of assets in the cryptocurrency market, Bitcoin (BTC) at below $29,000 is no exception, and the flagship decentralized finance (DeFi) asset is also recording the lowest trading volume in recorded history.
Indeed, the monthly trading volume of Bitcoin on major crypto exchanges has recently plummeted to its lowest level on the five-year chart, according to the latest information retrieved from the Bitcoin analytics platform Bitcoinity on August 17.
Bitcoin trading volume 5-year chart. Source: Bitcoinity
As it happens, in the last 30 days, the trading volume of the maiden cryptocurrency totaled 386,423.1 BTC or roughly $11 billion based on the current price of Bitcoin, which at press time stood at around $28,547, while the 24-hour volume reached 16,583,613,023 BTC, as the most recent charts indicate.
What this means
According to the analysis by X user WhaleWire, such a low trading volume for the largest crypto asset by market
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