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Crypto Trading Tumbles as Investment Scramble Unwinds

Crypto Trading Tumbles as Investment Scramble UnwindsCrypto Trading Tumbles as Investment Scramble Unwinds

Trading activity on cryptocurrency exchanges has halved from its December peak, industry data shows, as retail interest in the virtual coins declines and the prices of many remain far below their recent highs.

Average daily traded volumes across cryptocurrency exchanges fell to $9.1 billion in March and to $7.4 billion in the first half of April, compared to almost $17 billion in December, according to data compiled by crypto analysis website CryptoCompare, Reuters reported.

Rocketing prices of digital currencies such as bitcoin fueled a mania in the sector towards the end of 2017 as retail investors across the globe scrambled to get a piece of the action. That triggered regulatory warnings and threats to crack down on the market.

Since peaking in December and January, bitcoin's price BTC=BTSP has more than halved, while the second and third largest cryptocurrencies, Ethereum and Ripple's XRP have lost even more of their value.

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