Crypto volume slows to a trickle

Losing shine: A bitcoin billboard in Caracas, Venezuela. Bitcoin, the largest cryptocurrency, has lost a fifth of its value this year, while some smaller coins, as well as tokens influenced by social-media sentiment, have posted even larger drops. — Bloomberg

DURING the brutal cryptocurrency selloff last month, volumes also tumbled – a development that doesn’t bode well for exchanges that trade the digital tokens.

Total spot volume slumped to US$1.8 trillion (RM7.5 trillion) in January, a decline of more than 30% from the previous month, according to a report from CryptoCompare.