ICYMI: Bitcoin futures volume hit a 21-month low in August, as ether volume surged
This was bitcoin’s lowest month by trading volume since November 2020.Bitcoin futures trading volume, in dollar terms, clocked its lowest levels since November 2020 in August.bitcoin futures trading volume for August came in at $941.5 billion across exchanges. That's the first month it was under $1 trillion since December 2020 — when volumes were $970.1 billion — and the lowest since November 2020, when volumes were $779 billion.
Ether futures crossed $1 trillion for the first time since May 2021, when they reached $1.64 trillion. Trading volumes for the second-largest cryptocurrency by market cap were $1.05 trillion in August, up from $934.9 billion in July. The 21Shares research team noted in its monthly review that there were $950 million worth of liquidations from the crypto futures market over the last two consecutive weekends in August, which may have escalated the downward trend of bitcoin and the broader market.
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