4 ms·
If you see the bitcoin charts, price has gone up a lot in the last few years but volume has tanked. Do I read this right that now crypto is basically a smaller
by lz400 11mo ago
If you see the bitcoin charts, price has gone up a lot in the last few years but volume has tanked. Do I read this right that now crypto is basically a smaller market where a bunch of whales scam a ever dwindling but never completely disappearing flow of fools and marks?
- christophilus 11mo agoVolume appears pretty normal to me. Where do you get the idea that it’s tanked?
- pants2 11mo agoI think a lot of the volume on spot BTC has gone to ETFs, DATs, perps, WBTC, and other derivatives, when a few years ago spot was really the only option. Hard to track total volumes now.
- jameslk 11mo agoVolume != value. Less trading can be a sign of more holding
- D13Fd 11mo agoBut people are “holding” nothing more than a line on a spreadsheet. The only true value a cryptocurrency has is in enabling transactions. If that’s not what it’s doing, then it will eventually have no value.
- louthy 11mo agoLess trading is the sign of an illiquid market, which can mean pricing becomes volatile and eventually meaningless.
- Yizahi 11mo agoI suspect that most of the trades are off-chain now, due to blockchain being being complete and utter crap for fast transactions by design. So people are entrusting their tokens to the centralized entity and receive some IOUs from it, with which they trade and that centralized platform. Basically unlicensed banks recreated with all negatives of the bank and no benefits.