Crypto trading volume in November hits a 5-month low, with significant outflows from Bitcoin ETF
According to ChainCatcher, citing The Block, cryptocurrency market trading volume has shrunk significantly, with monthly trading volume on centralized exchanges dropping to $1.59 trillion, down 26.7% from October and reaching the lowest level since June. Decentralized exchange trading volume also fell to $397.78 billion.
A certain exchange still maintains its market-leading position, but its trading volume dropped from $810.44 billion in October to $599.34 billion. Meanwhile, the price of bitcoin fell from around $110,000 at the beginning of the month to $86,500 at the end of the month. The US spot bitcoin ETF saw a net outflow of $3.48 billion, marking the largest single-month outflow since February this year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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