According to a report by cryptocurrency analytics firm CryptoCompare, October saw the lowest trading volume for crypto products.
The average daily trading volume of institutional crypto products decreased by 34.1%, to $61.3 million. Almost all crypto products covered in the report showed a decrease in average daily volumes ranging from 24.3% to 77.5%.
Analysts note that the trend did not arise due to recent events in the market – they began in November last year. However, experts saw some optimistic momentum. Total Assets Under Management (AUM) across all digital asset investment products rose 1.76% to $22.9 billion. There has been no such increase since July.
According to experts, one should pay attention to net cash flows. In October, Bitcoin (BTC)-based products recorded an average daily inflow of funds of $8.37 million.
Things are worse with ether (ETH), where experts recorded an outflow of funds in the amount of $2.87 million. At the same time, the cryptocurrency itself, ether, showed better growth than BTC by October 26, having risen in price by about 14% and reached its weekly high of $1 554.
Earlier, Allied Market Research experts reported that they expect the volume of payments in bitcoins to grow by an average of 16.3% per year – by 2031 the volume should reach $3.7 trillion.
Source: Bits
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