Dogecoin Trading Volume Hits A 16-Week High
At just 27%, Bitcoin dominance across all of the top 25 centralized exchanges is currently at its lowest level since April 2023. advertisement Courtesy: Kaiko Offshore exchanges have experienced a significant decrease in Bitcoin (BTC) trading activity, partly because of a surge in altcoin trading volume in South Korea. Since the beginning of 2023, the dominance of BTC in the market has dropped by 20%. In the United States, altcoins have also gained popularity in the past month, indicating that the regulatory crackdown hasn’t affected demand much, reports Kaiko. Altcoin liquidity, which refers to how easily these alternative cryptocurrencies can be bought or sold, has seen a small increase since the start of July. This data comes from Kaiko’s market depth, which looks at bids and asks for an asset across all centralized exchanges, giving a comprehensive view of the asset’s liquidity. Since the beginning of July, the 1% market depth for t...