© Reuters. Crypto Analysts Discuss Reasons Behind Crypto Trading Volume Drop
- Crypto experts discussed the recent decrease in the crypto trading volume.
- Ben Armstrong remarked that a weakened US Dollar could cause hyperinflation.
- Altcoin Daily opined that the acceptance of Uniswap and other DEXs contributed to the drop.
On the latest episode of the cryptocurrency show Around The Blockchain, the crypto enthusiast and content creator Ben Armstrong, otherwise known as BitBoy Crypto, declared that a weakened US Dollar would likely lead to “absolute destruction of the economy” and hyperinflation.
The episode featured a conversation with leading crypto figures, including Ben Armstrong, the investor Johnny Hopper, the crypto analyst Altcoin Daily, and the crypto event speaker Randi Hipper, discussing the recent decrease in the crypto trading volume.
The host Deezy opened the discussion by quoting former US President Donald Trump’s view on the US Dollar’s probable downfall due to the country’s high inflation rate and the failure of the banking sector.
Trump noted:
Our currency is falling and will no longer be the world standard, which will be our greatest defeat, frankly, in 200 years. That will take us away from being even a great power.
The host then asked Altcoin Daily about the impact of the “zero freedom” imposed by the US regulators on the 80% drop in the crypto trading volume.
The crypto analyst replied that there were two major factors that led to this decline: the absence of new participants in the crypto market and the growing demand for “huge payers” such as Uniswap and other decentralized exchanges (DEXs).
Adding to the discussion, Johnny Hopper suggested that the younger generation, who are usually lazy, are more likely to choose easier platforms such as Uniswap. In spite of the decrease in trading volume, the panelists expressed their optimism about the future of cryptocurrencies and decentralized finance.
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