Technical data suggests lower support around $34,000 could stabilize the current pullback.
In the latest CoinDesk 20 revision, five assets were replaced by crypto assets that saw recent quarterly volume surges.
Daily trading volume on Uniswap surged by over 1,200% to a record $2.04 billion, surpassing the previous record high of $953.59 million registered on Sept. 1 by a big margin.
Bitcoin is experiencing high volumes, pushing the price close to $11,000. Meanwhile, Ethereum fees are up 550% this year.
On a relatively new exchange like the Antigua-based FTX, the order book depth, as represented by the number of buy and sell orders at each price, now matches the depth seen on industry leader BitMEX.
Lower bitcoin spot volumes and flatter-than-usual price action doesn’t mean crypto traders have zero opportunities to capitalize.
After a flurry of trading late last week, bitcoin dipped on lower volume.
Activity in the bitcoin options market picked up pace on Thursday, as spot prices jumped above key resistance over $7,000.
After weeks of elevated activity, trading volumes on spot bitcoin exchanges have subsided, boding well for some traders if not the venues themselves.
CoinDesk Research analyst Galen Moore unpacks the differences in reported trading volumes from three major data aggregators.
CoinMarketCap explained the difficulties in offering volume data on Thursday, but added it would incorporate new features to reduce this.