Cryptocurrencies trading volume dropped 40% in June at the largest exchanges, including Coinbase, Kraken, Binance and Bitstamp. Data provider CryptoCompare said the decline in volume was due to a long correction in the crypto markets and lower volatility.
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Bitcoin has been falling since April when it was $64,000 to touch as low as $28,900 in June, which is more than half of its all-time high.
A daily volume maximum of $138.2 billion on June 22 was down 42.3% from the intra-month high in May.
China's crackdown on the crypto industry has severely impacted investors' confidence in the newly developing asset class.
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