
Ethereum paints the same picture

$107,601.00
1.24%$2,581.26
0.46%$2.38
-0.17%$661.49
1.49%$171.33
0.66%$0.999849
0.01%$0.232701
2.43%$0.76064
2.13%$0.27107
0.14%$2,583.02
0.42%$107,504.00
1.24%$3.89
0.18%$3,102.46
0.70%$16.02
-1.44%$22.81
1.05%$0.290684
1.27%$26.53
-0.54%$0.00001483
0.59%$0.196768
-0.13%$8.82
1.36%$398.64
0.77%$3.10
1.30%$95.55
-2.58%$4.76
1.83%$2,590.62
0.79%$0.999806
0.01%$361.83
3.88%$2,764.46
1.06%$5.21
0.03%$1.00
-0.02%$0.831672
12.45%$0.00001395
3.41%$1.001
0.07%$107,572.00
1.32%$30.25
0.21%$259.05
-3.54%$6.38
4.88%$424.14
0.90%$2.85
0.08%$5.23
-0.12%$52.67
0.31%$206.48
0.99%$0.961165
1.18%$0.112446
1.69%$0.097501
0.27%$14.52
12.13%$1.00
0.00%$36.04
0.58%$5.39
1.16%$18.71
-0.09%$21.63
-0.00%$0.746458
1.14%$1.17
0.10%$0.02890951
1.45%$4.75
0.95%$1.052
0.02%$0.392955
2.09%$4.99
2.69%$0.999839
-0.05%$107,330.00
1.27%$0.233716
-0.92%$0.785731
4.89%$0.402516
0.61%$0.227408
0.69%$2.90
0.19%$4.40
0.05%$2.70
0.66%$1.13
-1.17%$0.509784
0.75%$4.59
0.63%$0.00002052
2.45%$2,584.26
0.55%$0.998185
-0.14%$0.518556
3.62%$11.71
-0.71%$179.92
0.59%$98.95
2.80%$2,705.13
1.08%$0.920963
6.35%$1.35
9.83%$1.99
-1.48%$107,340.00
1.26%$1.29
1.59%$4.56
-3.93%$0.01903087
-0.42%$0.740867
1.70%$0.665697
0.70%$2,933.85
0.73%$1,762.72
-1.50%$0.227066
0.32%$12.35
0.66%$0.786134
0.67%$1.00
0.02%$0.071268
-0.89%$0.113881
1.96%$1.02
3.12%$0.749903
1.06%$0.00010133
1.10%$2,752.00
0.45%$3.27
1.53%$222.03
1.17%$0.9112
0.34%$662.02
1.52%$0.99958
-0.02%$0.999857
-0.04%$190.56
1.17%$0.01848626
2.00%$0.01988731
3.35%$107,562.00
1.37%$1.00
0.02%$108,385.00
1.87%$0.01306294
2.07%$0.655976
1.76%$2,713.06
0.53%$0.909253
0.12%$3,297.65
2.54%$3,311.62
2.52%$0.225546
-0.07%$0.773232
-1.05%$0.316681
1.13%$2.39
4.12%$22.77
0.93%$0.130337
-5.27%$2,695.53
0.20%$4.03
0.53%$12.80
1.40%$0.00000073
-0.43%$36.09
1.99%$4.41
-0.49%$0.76595
2.13%$0.070168
-0.03%$0.117977
0.26%$107,026.00
2.65%$42.06
3.51%$2.02
0.54%$0.627983
0.13%$0.01948131
-2.40%$1.00
0.10%$0.412171
0.48%$0.997837
0.03%$1.83
1.58%$2.06
-0.08%$2.28
11.53%$111.12
0.01%$0.325993
0.31%$0.232844
2.37%$1.11
-0.12%$2,591.10
0.84%$2,588.55
0.59%$0.678796
3.09%$107,650.00
1.40%$2,754.00
0.47%$2,651.08
0.92%$0.999806
-0.00%$18.58
0.50%$2.17
14.01%$0.671038
0.58%$0.439331
-0.37%$0.631323
-0.26%$0.00886969
1.37%$2,593.32
0.89%$107,485.00
1.29%$0.496254
10.53%$0.999226
-0.01%$3.03
-0.50%$7.43
-0.38%$0.155281
0.80%$0.190436
1.69%$104,891.00
1.86%$0.183684
-0.08%$6.63
0.38%$1.72
0.03%$0.430545
0.56%$0.091771
2.04%$0.708204
0.08%$0.00504391
0.56%$0.064353
-0.10%$0.466188
3.00%$0.050028
-0.70%$0.00002289
0.08%$0.999802
0.00%$0.096629
0.33%$0.00000114
3.76%$1.46
1.94%$0.00000044
0.74%$0.04467174
0.86%$0.451017
15.58%$2,572.74
-0.02%$1.31
-1.13%$0.00800693
0.22%$0.171935
-0.61%$0.159366
1.66%$1.087
0.00%$1.001
0.57%$107,468.00
2.03%$0.0046917
0.39%$1.001
-0.01%$43.42
-0.84%$0.999925
0.00%$3.24
2.06%$0.358435
0.97%$1.54
-0.47%$34.56
1.15%$0.839466
5.69%$0.00548119
-2.54%$0.03810035
6.35%$2,743.21
0.66%$0.999956
0.03%$1.10
0.13%$0.233123
-1.21%$0.01920481
-0.16%$0.00369403
1.95%$1.001
0.04%$135.99
0.46%$0.379547
0.89%$26.79
0.40%$2,843.98
0.70%$0.848935
1.17%$3.84
-5.27%$0.346764
3.84%$0.00006335
-0.06%$107,493.00
1.30%$2,823.71
0.87%$0.306578
4.07%$0.00000164
3.71%$2,592.61
0.88%$1.00
0.05%$19.67
0.22%$0.230643
0.60%$0.794373
-4.17%$0.00075574
2.42%$22.78
1.08%$1.00
0.04%$0.254269
0.16%$1.00
0.08%$2,577.61
0.48%$0.694244
-0.46%$2,796.12
0.91%$18.74
-0.21%$2.73
-2.95%$0.00340932
1.00%$0.50765
1.49%$0.00283804
-0.39%$23.62
-0.77%$26.77
0.36%$0.678517
3.00%$0.00
2.00%$3.47
1.40%Bitcoin's spot trading volumes for the current quarter have totaled $721.10 billion, according to CoinGecko data.
If September's volumes mirror those of July and August, it will mark the lowest trading volumes for a quarter since Q1 2019. Quarterly trading volumes hovered over $2 trillion for most of the time between 2019 and 2023.
Over the previous two months, Bitcoin saw trading volumes of $345.89 billion and $354.84 billion, respectively.
If conditions remain unchanged and September's volumes hover around $350 billion, the quarterly trading volumes would come close to $1.05 trillion.
For comparison, last quarter, the total quarterly trading volumes were $1.25 trillion, marking a potential 14% decline month over month.
CoinGecko data shows that the total trading volume for Bitcoin in the first quarter of 2019 was $541.3 billion.
Bitcoin quarterly trading volumes. Source: CoinGecko.
The conditions are similar for Ethereum (ETH).
In July and August, ETH recorded trading volumes of $232.06 billion and $212.92 billion, respectively.
If Ethereum’s September trading volumes reach approximately $220 billion, the cumulative quarterly trading volume for ETH would be just over $650 billion, a level not seen since 2019.
In Q4 2019, the total spot trading volumes for ETH amounted to $740.64 billion.
Ethereum quarterly trading volumes. Source: CoinGecko
According to a previous CoinGecko report, spot trading volumes for the entire crypto market on centralized crypto exchanges dropped by 43% in the second quarter of 2022.
Institutional trading firm Genesis Trading said in its last quarter report that derivatives will likely play a crucial role in the future growth of crypto volume, with “spot market liquidity suffering and spot order book depth chronically flagging.”