Crypto trading volume hits yearly lows in June

abdelaziz Fathi

Switzerland’s principal exchange has experienced a sharp decline in trading activities for June 2022, according to its latest report. The broader digital-asset market remaining bearish and the recent selloffs have also contributed to the disappointing crypto figures, the report suggested.

The Swiss Stock Exchange saw bleak trading results with volumes aggregating to CHF 97.8 billion, the weakest print so far this year in terms of both trading turnover and number of transactions. The statistical report shows that trading turnover at the exchange’s venues, including on SIX Structured Products Exchange Ltd, was lower 11 percent from CHF 114.2 billion in May.

In terms of the total number of transactions, the volumes were numbered at 4.9 million, down 10.7 percent month-on-month compared to 5.5 million transactions reported for May 2022.

As volatility dropped to levels below the extraordinary peaks of the previous year, trading activity on SIX Swiss Exchange also stabilized in the second quarter.

The highest turnover on a single trading day was recorded on 17 June, which saw securities worth a total volume of CHF 9.9 billion changing hands. The highest number of trades was also recorded on the same day, with 284,360.

SIX remains a popular destination for crypto listings

The Swiss key bourse noted in the press release that its year-to-date volumes, through end of June 2022, were slightly up by 2.2 percent versus the same period in the previous year, coming in at 34.4 million trades. This effect was less apparent in trading turnover which was up 1.6 percent over the same period and totaled CHF 705.6 billion as of last month.

The Zurich-based market operator also said that cryptocurrency products hit a trading turnover of 170.5 million, down from CHF 249.6 million in May. In total, 201 products were traded and 13,562 transactions concluded. The highest turnover was recorded by AETH, an ETP on Ethereum, with CHF 22.4 million; the most transactions were recorded also by AETH, with 2,745 trades.

The infrastructure of SIX once again proved popular and reliable, providing the solid bedrock for new crypto listings. Part of this expansion, Europe’s largest digital asset investment firm, CoinShares rolled out a physically-backed exchange-traded product (ETP) for the polkadot cryptocurrency. Fidelity also launched a physical bitcoin exchange traded product designed for sophisticated investors in Europe.

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