Digital currency markets have slipped significantly in value during the last two weeks and the lower prices have not sparked higher trade volumes. Data shows cryptocurrency spot market volume has slipped from $1.4 trillion in November 2021, to this month’s $593 billion in volume. Bitcoin futures open interest and volumes have dropped considerably over the last two months as well.
Crypto Volumes Slide Month-Over-Month Since November
When crypto markets shed significant value, traders typically look to see if trade volume increases in order to support the current prices. Since a number of coins tapped all-time high prices during the second week of November, crypto spot market volume has continued to slide.
Data from theblockcrypto.com’s exchange volume dashboard, which sources data from cryptocompare.com metrics, indicates spot market volume has fallen month-over-month since November.
While November saw $1.4 trillion, December saw a recorded $1.04 trillion. While data is incomplete
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