In the last month of 2022, Chicago Mercantile Exchange’s (CME) crypto-related trading volumes plummeted.
Bitcoin futures volume was down 48.3% to $13.2 billion, and ether futures volume was down 55.3% to $481 million, according to CryptoCompare.
The historical monthly volume of bitcoin futures on CME (CryptoCompare)
Spot trading volumes across the industry declined 48.4% to $544 billion, the lowest figure since December 2019, according to the report.
“After the collapse of FTX in November, users lost trust in centralized exchanges, prompting investors to take a cautious stance amid concerns over further contagion,” wrote the report authors.
In addition, bitcoin essentially flatlined throughout most of the month in the mid-$16,000 range.
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