Cryptocurrency trading volumes rise in September

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Crypto transactions jumped 16% between September and August to $733 billion.

Trading volumes up close: After several months of stagnation, investors are breaking out of their stupor and volumes are picking up in September.

It’s not a return to the big hours, the all-time record dates back to May 2021 and topped $2,000 billion, but we bounced 16% in September compared to August to $733 billion.

“September trading volumes marked the first significant increase since May this year,” said data compiled by The Block.

Volumes were $629 billion in June, $633 billion in July and $630 billion in August. Figures that can be explained by this famous crypto winter that we talked about so much and which was a pretty good sign because if the prices crashed, it didn’t stop the market from being liquid and efficient and that’s a pretty good indicator.

Bitcoin and Ether Momentum Search

Now, if the investors are there, that’s absolutely no guarantee of positions, up or down. For now, we’re really looking for upside momentum in the majors like Bitcoin and Ether. And for now trend wise things are slowing down except for xrp which is very attractive right now.

For October, analysts expect a significant trend-positive seasonal effect, which should be primarily favorable for Bitcoin, but which should affect all markets. So if we start again from a volume perspective, we may have a much nicer sauce starting to take hold in the crypto market.

Confirmation is pending, but for now the observed dynamics at the beginning of the month are quite promising.

Antoine Larigodry, edited by PA.

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