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Cryptocurrency trading volume plunges as interest wanes following bitcoin price drop

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Art at the cryptocurrency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami on June 4, 2021.

Marco Bello | AFP | Getty Images

Cryptocurrencies are in a summer slump as they navigate a two-month correction period following a string of negative stories.

Trading volumes at the largest exchanges, including Coinbase, Kraken, Binance and Bitstamp, fell more than 40% in June, according to data from crypto market data provider CryptoCompare, which cited lower prices and lower volatility as the reason for the drop.

In June the price of bitcoin hit a monthly low of $28,908, according to the report, and ended the month down 6%. A daily volume maximum of $138.2 billion on June 22…



Source cnbc.com

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