Analysts also reported a 56% drop in ETH reserves. The volume of trading with BTC on the spot market in the U.S. has dropped to 2016 levels and is only 21% of the global indicator. And if you consider that the U.S. sites practically do not give access to the market of cryptocurrency futures, which is 11 times larger than the spot market, the situation becomes even more sad. At the same time, trading volumes on Asian crypto-platforms have increased by 30% and 20% for spot and futures markets, respectively, in recent weeks.</nbsp;
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Also important is the significant decline in the capitalization of stabelcoins issued by U.S. companies. Since the beginning of the year, the figure is down $15 billion – 35% of total capitalization. This is due to regulatory uncertainty and recent SEC filings against Binance and Coinbase;
However, bitcoin inflows have been recorded on platforms based in more cryptocurrency-friendly countries. For example, in the European Union and Hong Kong. A Hong Kong lawmaker invited Coinbase and other cryptocurrency exchanges to open local offices. Johnny Ng said the country is attracting innovative companies and he will personally provide all the help crypto firms need.
Earlier, former CFTC Chairman Timothy Massad said the future of the crypto industry depends on the outcome of the SEC proceedings against the Binance and Coinbase exchanges.<br