Due to the side marketplace, the October cryptocurrency trading volume on important exchanges fell to its lowest degree in just about two many years.
According to the statistics of The blockThe volume of cryptocurrency trading on important cryptocurrency exchanges in October 2022 marked a unhappy milestone when it dropped to its lowest degree due to the fact December 2020.
Notably, spot cryptocurrency trading volume final month was $ 543 billion, down 25.9% from $ 733 billion in September.
The purpose for the over circumstance stems from the truth that the cryptocurrency marketplace has invested most of October “going sideways”, with out quite obvious volatility. The marketplace volatility index also reached its lowest degree due to the fact July 2020.
Binance continues to be the dominant exchange in the centralized exchanges (CEX) section when it contributes up to $ 390 billion in trading volume, accounting for 71.eight% of the marketplace share and far behind rivals this kind of as Coinbase (eight.six )%), FTX (six.seven%) and Kraken (two.five%).
The trading volume is also largely concentrated in Asia with USD 529 billion, followed by North America with USD 78 billion, Europe with USD 17.seven billion and South America with USD 9.four billion.
Meanwhile, the volume of Bitcoin and Ethereum on-chain transactions (immediately by means of blockchain) in October 2022 was $ 237 billion, down 35.one% on a month-to-month basis.
On-chain stablecoin trading volume fell 24.two% to $ 580.four billion, with USDC trading volume over USDT for the third consecutive month, in spite of USDC’s exceptional provide continuing to decline in the final yr.
BTC miners’ income elevated seven.two% to $ 589.9 million, when ETH staking income plummeted from 74.one% to 91.two% as ETH emissions have been substantially lowered just after the lift .
The NFT trading volume on Ethereum extended its downward trajectory and only reached $ 377.five million in October.
Synthetic currency 68
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