Forecast Trend Report by Period
Cryptocurrency exchanges that depend heavily on retail investors are shutting down as trading volumes sink to their lowest level in more than two years.
CoinDesk reported on July 28 that derivatives exchange BitMEX will permanently end its services in September. BitMart has also told users to stop trading within 30 days and withdraw their funds within six months.
Spot trading volume on major centralized exchanges fell to $1.05 trillion in April, the lowest level in 25 months. Trading volume at South Korea’s five largest cryptocurrency exchanges also dropped 88% from its peak.
“There is no longer enough trading volume or retail investment demand,”…
