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Bitcoin, Ether Trading Volumes Fell More Than 77% in Nov. 1 Records

UTC-dated records listed $43.55 billion in Bitcoin volume and $4.41 billion in Ether volume, down from Oct. 31 totals.

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Unmarked metal tokens rest along a descending stone ledge / TokenPost.ai
Unmarked metal tokens rest along a descending stone ledge / TokenPost.ai

Bitcoin (BTC) trading volume was $43.55 billion in the Nov. 1 UTC-dated record, down 78.37% from $201.31 billion on Oct. 31. Ether (ETH) volume was $4.41 billion, down 77.42% from $19.53 billion.

Bitcoin’s listed volume was about 9.9 times Ether’s on Nov. 1, while Bitcoin’s market capitalization was about 5.7 times larger. Trading volume equaled 2.80% of Bitcoin’s $1.56 trillion market cap and 1.60% of Ether’s $275.4 billion market cap, making Bitcoin’s turnover ratio about 1.75 times Ether’s.

The historical records label dates in UTC but do not specify the exact cutoff used for volume. Other recent measures of trading activity included an 82.2% drop in Coinbase Prime volume and lower Bitcoin activity across regional trading sessions.

Enna Lee

Reporter

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

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