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Bitcoin volatility hits low as cryptocurrency trading volume tanks

Bitcoin volatility hits low as cryptocurrency trading volume tanks

While the price of Bitcoin BTC is approaching a one-year low, trading volumes across cryptocurrency markets have already reached that point.

Blockchain research unit Diar has just dropped new data on the major cryptocurrencies. All top markets have slowed dramatically over the year. Bitcoin trading volume is down 79 percent from the highs of January this year.

Diar notes the low volumes are despite a sharp increase in activity from major banks and investment firms, like ICE-led Bakkt, or the famous Fidelity. The data implies both Wall Street experiments are yet to inspire any new interest in cryptocurrencies.

Ethereum, too, has hit a low-point for the year.

Volatility is also down across the major cryptocurrencies. Diar notes that Bitcoin’s 30-day volatility currently sits at under 1.5 percent. In January, it was 9 percent.

This makes Bitcoin the most stable major cryptocurrency on today’s market, followed by the anonymity-focused altcoin Monero, which recorded 2.7 percent volatility.

Curiously, the cryptocurrencies tailored towards being used for by the global remittance industry – like Stellar and XRP – are now the most volatile of the most popular digital assets.

About David Wiky

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