- BTC and ETH are showing historically low levels of weekly trading volume.
- The trading volume has dried up since the beginning of the March price rally.
The crypto market has experienced a downtrend in recent times. The trading volume of the largest assets by market capitalization is plummeting to too low levels and has shown historically low levels of weekly trading volume.
📉 The largest assets in #crypto are seeing historically low levels of weekly trading volume. #Altcoin volume, in particular, has really dried up. When combining just $BTC & $ETH volume, this is the 2nd lowest threshold we are seeing since September, 2019. https://t.co/1V2tPno7jD pic.twitter.com/tegItbDuen
— Santiment (@santimentfeed) May 22, 2023
Santiment, the social and financial analyst, has reported that Bitcoin (BTC) and Ethereum (ETH) are showing historically low levels of weekly trading volume. Specifically, the altcoin volume has dried up. Combining BTC and ETH volume, this is the second-lowest threshold since September 2019.
Moreover, the trading volume has dried up since the beginning of the March price rally. The crypto market’s top market capitalization saw its lowest combined volume over the year.
At the time of writing, the trading price of Bitcoin is around $26,854, with an increase of 0.32% in the last 24 hours. The trading volume of BTC has increased by over 27.56%, according to CoinMarketCap.
