The crypto markets rebounded in October in hope of a less aggressive stance from the FederalReserve after two consecutive months of decline, with Bitcoin and Ethereum rising 3.38% and 9.90%(as of October 25th).
October Highlights
- In October, institutional digital asset products experienced the lowest-ever volume reported (data tracked since June 2020), with average daily trading volume falling 34.1% to $61.3m. It is the second month since September 2020 in which average daily volumes have fallen under $100mn.
- Almost all the products covered in this report recorded a large decline in average daily volumes, ranging from -24.3% to -77.5%.
- ETF products from Purpose saw a spike in trading volume with Purpose Bitcoin ETF (BTCC) and Ether ETF (ETHH) increasing by 298% and 172% respectively.
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