In November, only a handful of tokens have experienced further increase in volume
On November 26, 2018, crypto news from Diar reported that token trading volumes on major exchanges have fallen substantially.
Diar’s data were obtained from eight leading cryptocurrency exchanges: Binance, OKex, Huobi, Bitfinex, Kraken, Poloniex, Bittrex, HitBTC. Those data shows that 60% of cryptocurrencies, that are being listed since January 2018, are now trading at lower volumes than at the beginning of this year. And more than 20% of those have experienced an extreme drop, showing less than 90% of the trading volumes they saw during the rise of crypto market this January.
According to Diar, although the cryptocurrency market crashes, traders are not flowing in to get “a punt on the bargain.”
Considering 410 tokens have shown an overall increase in volume in 2018, the number of those that have shown an increase of over 100% fell from 102 to 91% between October and November. The same month, “only a handful” of tokens enabled to have some increase in volume.
Earlier in November 2018, Changpeng Zhao - CEO of the global crypto exchange Binance - reported that the company was “not worried” about the fall of trading volumes. He said that while Binance currently has one tenth of the trading volumes it had in January, volumes still far above that where they were “two or three years ago” and business is “still profitable.”