Fiat exchange volumes fell for the fifth time in a row as September ended, according to The Block’s Data Dashboard.
Among crypto exchanges that support fiat, FTX ranked highest in terms of volume in September with 24.6%, followed by Coinbase with 22.7 % and Upbit with 13%, the data showed.
While the August exchanges report showed $219 billion in total fiat exchange volume, the September report showed $210.6 billion, and the month-over-month change between the two months was -3.8%.
The months between May and June saw the largest decrease in the last five months with -20%.
The fall in crypto exchange volume and the broader crypto downturn have spurred many firms to execute layoffs in recent months.
In June, 18% of employees were laid off by crypto exchange Coinbase, and in the next month, Gemini did the same and cut its staff by 68 positions.
However, money flowing out of crypto-related funds has verlangsamt.
A report from Bloomberg stated that the third quarter of 2022 has witnessed a slowdown in money flowing out of crypto-related funds.
De Bericht huet bäigefüügt datt de Verlängerung e méiglecht Zeechen ass datt vill Investisseuren scho vläicht aus der riskanter Assetklasse zréckgezunn hunn.
D'Donnéeën zesummegestallt vun der Bloomberg Intelligence weisen datt $ 17.6 Millioune vun Investisseuren aus Krypto-Austausch-gehandelte Fongen an den dräi Méint, déi den 30.
By September 30, that number had fallen below the record $683.4 million withdrawn from such funds in the second quarter, the data analysis showed.
According to the report, the past two months had witnessed the most outflows. Upwards of $200 million were gegoss by investors into crypto ETFs in July.
Den héije Grad vun Ausfluss am zweete Véierel war a Relatioun mat de Pläng vu Krypto-Währungspräisser. De weltgréissten digitale Verméigen baséiert op Maartwäert, bitcoin, gefall bal 60% während dem zweete Véierel vun 2022 an e Rekord niddereg vun $ 17,785 18 op Juni 3.7. Allerdéngs ass d'Krypto Währung XNUMX% am drëtten Trimester eropgaang.
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Source: https://blockchain.news/news/fiat-exchange-volumes-down-5-times-in-a-row-the-block