Kaiko Says Weekly Spot Volume in Top 10 Cryptocurrencies Fell to $80 Billion, Less Than Half of Last Year
Summary
- Kaiko said average weekly spot cryptocurrency trading volume for the top 10 tokens fell to $80 billion this year, less than half of $178 billion a year earlier.
- Kaiko said lower market volatility, a broader wait-and-see stance among investors, slower trading in US spot Bitcoin ETFs, and reduced institutional investor participation contributed to weaker market liquidity.
- Market participants said uncertainty over US interest-rate policy and geopolitical risks in the Middle East have weakened risk appetite, though some long-term investors said the institutional demand base remains intact and the market structure is stable.
Forecast Trend Report by Period
Weekly spot trading volume for the top 10 cryptocurrencies has fallen sharply this year from a year earlier, highlighting weaker investor sentiment and softer trading activity.
Kaiko, a digital-asset data provider, said the top 10 cryptocurrencies recorded average weekly spot volume of about $80 billion this year.
That was less than half of last year's average weekly volume of $178 billion. Kaiko attributed the decline to lower market volatility and a broader wait-and-see stance among investors.
Slower trading in US spot Bitcoin exchange-traded funds and reduced participation by institutional investors have also been cited as factors behind weaker market liquidity. Some on-chain analytics firms have recently said spot ETF outflows and declining trading volumes are continuing.
Market participants also point to uncertainty over US interest-rate policy and geopolitical risks in the Middle East as factors weighing on appetite for risk assets. Some long-term investors, however, say the market structure remains stable because institutional demand is still intact.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.