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Low transaction volume in the market reaches extreme numbers for Binance

Binance, the cryptocurrency trading platform with the highest volume among cryptocurrency exchanges, is experiencing a 24 percent drop compared to the last 24 hours of trading, according to coinmarketcap data.

Binance declined to 7th place in trading volume. Following this rapid decline, the stock market, which declined to the 7th rank among the crypto money exchanges with a transaction volume of 985.9 million dollars, created a surprise in the market. Despite an18 percent drop in the last 24 hours, the OKEx stock exchange, with 1.28 billion dollar transaction volume, is at first place.

Binance is still the largest cryptocurrency exchange with 67.4 billion dollars of trading volume. But the start of the new week with such a decline is seen as a surprising development. On the other hand, low transaction volumes also cause the listed subcoins to remain inactive.

Crypto currency markets start sluggish week

When we look at the table of crypto money exchanges, it is also noteworthy that in general, the decreasing transaction volumes are higher, especially in large exchanges. Accordingly, the average 24-hour trading volume of crypto money markets has fallen to the level of $ 52 billion.

Even though the weakness in transaction volumes does not yet create a negative situation in the price of cryptocurrencies, the stagnation in the market may adversely affect market perception.

 

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.