Cryptocurrency Trading Volumes Slump 40 Percent in June, Data Shows

The price of trading on a major cryptocurrency exchange fell by more than 40 percent in June, a study showed on Monday, with the collapse of the law in China and a slowdown in volatile spending.

Spot trading prices fell by 42.7 percent to $ 2.7 trillion (approximately Rs. 2,01,57,770 crores), while inflation fell by 40.7 percent to $ 3.2 trillion (approximately Rs. 2,38,79,170 crores), data from London researcher CryptoCompare has shown.

“Headwinds have continued as China continues its fight against Bitcoin mining,” CryptoCompare said. “Due to low prices and instability, spot prices have decreased.” The price of Bitcoin in India stands at Rs. 25.12 lakhs from 5:20 pm IST July 12.


Bitcoin, the largest cryptocurrency, fell by more than 6 percent last month, affecting the lowest since January, as Chinese authorities tightened restrictions imposed last month on Bitcoin trading and mining.

It had fallen 35 percent in May, and its loss was due to Beijing’s measures to restore the fast-growing sector. Crypto trading prices tend to grow in times of price fluctuations.

Binance’s largest exchange, which is under the watchful eye of managers around the world, has maintained its position as a major platform for trading volume, CryptoCompare said. However, Binance volumes fell 56 percent in June to $ 668 billion (approximately Rs. 49,84,780 crores).

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