Volume on non-custodial crypto exchanges hits nine-month low

By Yana Berman

December was a slow month for non-custodial crypto exchanges

                                

Total trading volume on non-custodial crypto exchanges hit a nine-month low in December 2019, according to the Block Genesis report.

The trading volume on such exchanges has been steadily decreasing since July, when it reached its peak in 2019. The total then was $561m (£431m, €504m).

However, in August it dropped below $500m, reaching $322m. In the following three months the total trading volume on non-custodial crypto exchanges was hovering around $200m.

In December, the amount declined to $180m, a new nine-month low. However, the lowest monthly trading volume in 2019 was registered in January ($98m).

Still, according to Block Genesis, the share of volume traded on non-custodial exchanges increased in comparison to the amount traded on the centralised exchanges.

The crypto markets were in the red at the time of publication. The world's major cryptocurrency, 0'>Bitcoin, is still holding above $8,000, the threshold it has finally reached on January 8.

JP Morgan analysts recently unveiled that Bitcoin's intrinsic value remained well below market price, which suggests that some downside risk remains.

FURTHER READING: Bitcoin futures surge past $20bn

FURTHER READING: Crypto volatility eased in 2019, but it is still too much for most investors - report

FURTHER READING: Bitcoin price analysis (26 July-1 Aug): will rally sustain?

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