In June, cryptocurrency trading volume decreased by 56% compared to May, according to a new report from EXMO. At the same time, the number of traders on the trading floor decreased by 38%, and transactions – by 35%. Writes about this RBC Crypto.
The shares of Tether and Bitcoin in terms of trading volumes on the crypto exchange were approximately the same – about 21%. At the same time, the amount of transactions with BTC in May was slightly higher than with USDT. The company explained that this suggests that in June traders were more inclined to fix positions in the stablecoin.
At the end of June, 81% of the cryptocurrencies presented on the trading platform turned out to be in the red. Of these, 35% have lost over 30% of their value, more than half have fallen in price by 15% or more.
In a bear market, the rates of most cryptocurrencies moved almost synchronously, which resulted in a strong direct correlation. At the same time, the correlation between bitcoin and altcoins is noticeably lower than between the altcoins themselves.
Among the main events that influenced bitcoin quotes are bans and tightening of market regulation in China. In particular, the Chinese social network Weibo began to block cryptocurrency accounts, the authorities of several provinces banned mining, and the People’s Bank of China ordered banks and payment systems not to participate in transactions related to cryptocurrencies.
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