San Francisco, June 2 (Ians) The total money being invested in the crypto market has reached a 32-month low in the month of May.
According to data from The Block, cryptocurrency monthly exchange volume, which calculates spot market volume across all crypto exchanges, was $439.42 billion in May, down more than 27 per cent from $604.88 billion in April, reports TechCrunch.
The data also revealed that last month’s volume was the lowest level since October 2020 at $222.7 billion
Binance, the largest cryptocurrency exchange, saw about $218 billion in monthly exchange volume during May, dropping about 26 per cent from $293.83 billion in the previous month.
The exchange disclosed that it is reevaluating its workforce headcount ahead of future market cycles, possibly as a result of the bear market and decreased demand, according to the report.
“Over the past six years, the exchange grew from 30 employees to a team of almost 8,000 employees across the globe,” a Binance spokesperson was quoted as saying.
According to data from The Block, cryptocurrency monthly exchange volume, which calculates spot market volume across all crypto exchanges, was $439.42 billion in May, down more than 27 per cent from $604.88 billion in April, reports TechCrunch.
The data also revealed that last month’s volume was the lowest level since October 2020 at $222.7 billion
Binance, the largest cryptocurrency exchange, saw about $218 billion in monthly exchange volume during May, dropping about 26 per cent from $293.83 billion in the previous month.
The exchange disclosed that it is reevaluating its workforce headcount ahead of future market cycles, possibly as a result of the bear market and decreased demand, according to the report.
“Over the past six years, the exchange grew from 30 employees to a team of almost 8,000 employees across the globe,” a Binance spokesperson was quoted as saying.
- 6/2/2023
- by Agency News Desk
- GlamSham
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