Trading volume Bitcoin futures contract in August this year recorded the lowest level since November 2020.
According to the data of The Block Research, futures contract trading volume Bitcoin in August 2022 reached 941.5 billion USD on exchanges. This is the first month below 1 trillion USD since December 2020, when the threshold knife at that time was $970.1 billion. The lowest month for this index was November 2020, with a volume of $779 billion.
The main reason for the above drop may come from the "bad" price movement of Bitcoin in the past time, continuously plummeted without any significant recovery signal after that. The proof is in July 2022, despite the price action BTC once surpassed $ 24,000 after news of US inflation but quickly fell back to $ 20,000 before the "brief" speech of the Fed.
Next, the wave of FUD is continuously "threatening" popular platforms such as Avalanche (AVAX), Tellor (TRB) and especially the rumored Mt. Gox is about to release 142,000 BTC made the community concerned about the negative picture of the upcoming market.
Even large investment funds and institutions that are the last "belief line" of investors are now extremely shaky. Galaxy Digital recorded a loss of $ 554 million in the second quarter of 2022, Genesis Trading laid off 20% employees when the loss was heavy because 3AC, CEO Michael Moro announced his resignation, Meitu lost nearly $44 million in Bitcoin and billionaire Michael Saylor was sued for tax evasion while his MicroStratey was negative over $1.3 billion (-34.4%) at the time of writing.
Besides, on a national scale, El Salvador continues to suffer heavy losses, divided by 2 from the initial Bitcoin investment, equivalent to 59.2 million USD.
However, the explosive story of the futures contract Ethereum It is still not enough to determine the scenario where ETH will increase in price before The Merge officially launches on September 15-16, all should just stop at the expected level. Because considering the current on-chain situation, the battle between the big "players" is quite balanced. Ethereum miners are scrambling to accumulate, bringing their ETH balances to breaking 4-year highs while Ethereum whales are continuously pushing large volumes of ETH onto the exchange.