Crypto Spot Market Activity Falls to 4.5-Year Low of $475B in August

Volume figures might have been worse had it not been for the brief volatility spike on Aug. 17 and at the end of the month. Bitcoin, the leading cryptocurrency by market value, fell over 10% to $25,000 on Aug. 17, tracking risk aversion in traditional markets. The price briefly rose to $28,000 Aug. 29, cheering Grayscale’s legal victory over the SEC.