VanEck: Crypto exchange volumes declined to $52b in August
VanEck’s monthly crypto market recap reveals that trading volumes of centralized exchanges declined to $52.8 billion in August, representing a 15.5% decrease compared to July. Bitcoin (BTC) and Ethereum (ETH) faced a challenging month, recording 9% and 10% losses, respectively. VanEck: Crypto markets hit lows In August, as reported by VanEck, the trading volumes of digital assets hit a two-year low, coinciding with an all-time low in their volatility. According to the analysis, this decline was attributed to waning investor interest. The analysts attributed the declining investor interest to the allure of beach vacations in the U.S. and the U.S. 10-year treasury bond, whose yield reached its highest level in 15 years in August. The report also revealed a substantial decrease in venture capital funds allocated to blockchain projects, with only $500 million deployed in August 2023, representing a significant drop from the $1.9 billion and the $2.7 billion recorded in August 2022 an...