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Crypto Death Spiral? Binance's 2022 Volumes Same As 2021's $34 Trillion
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Cryptocurrency exchange Binance: 2022 volumes so far similar to 2021's $34 trillionAre we in a crypto death spiral? Not likely; recovery and volumes show otherwise.Bitcoin and Ether, the two bellwethers of the crypto market, have recovered early on Sunday after breaching several closely watched price levels recently.Indeed, Bitcoin has plunged to the lowest since late 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening.
Bloomberg data showed that the largest digital token by market value tumbled as much as 15 per cent to $17,599 on Saturday, marking a record-breaking 12th consecutive daily decline.
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