Daily crypto trading falls below $10 billion for the first time since 2020

Markets • December 27, 2022, 1:02PM EST
The Block

Quick Take

  • Daily spot trading volume fell below $10 billion on Dec. 25. 
  • Trading volumes haven’t been that low since Dec. 17, 2020, when bitcoin’s price first broke past $20,000.

Daily spot market trading volume for crypto exchanges fell below $10 billion for the first time since December of 2020, according to The Block's Data Dashboard.

Spot trading volume fell to $9.2 billion on Dec. 25 before continuing its decline to $8.5 billion on Dec. 27.

The last time daily spot trading volume was below $10 billion was on Dec. 17, 2020, when the price of bitcoin had surged past $20,000 for the first time just the day before, The Block previously reported. Bitcoin trades now around $16,800. 

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NFT transactions have also fallen alongside crypto trades, with The Block data showing that NFT sales have decreased every month since April. 


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

Editor

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