Statistics show a dramatic decline in daily cryptocurrency trade volumes in December 2022.
54 days earlier, on November 8, 2022, during the FTX crash, there were roughly $115.33 billion worth of cryptocurrency transactions worldwide.
Crypto Trade Volumes Will Be 46% Lower in 2022 Than in the Previous Month
Since the beginning of the year, cryptocurrency trade volumes have significantly decreased worldwide.
For instance, according to statistics from the last year’s coingecko.com, on Jan. 2, 2022, there were over $70.48 billion in global trade transactions over the course of 24 hours.
Since January 2022, cryptocurrency trading volumes have been falling, with monthly peaks occurring in May, September, and November 2022.
The chaos surrounding FTX’s collapse caused the November rise, which coincided with a sharp increase in daily trade volumes.
The last time the volume of worldwide cryptocurrency trades was this low was in December of 2020, which was two years ago.
Global crypto transaction volumes were $385.51 billion at that time, which was 7.27% more.