Coinbase’s trading volume fell 99.2% in the past 24 hours

On March 12, according to the data released by Crypto KOL and chain analyst Mr. Whale, the trading volume of Coinbase on the Cryptocurrency Exchange has plunged by 99.2% in the past 24 hours, which is the first time in history. The reason may be that the US dollar stable currency (USDC) (partially owned by Coinbase) triggered the anchoring in the bankruptcy of Silicon Valley banks.

Interpretation of this information:

The cryptocurrency world experienced a major shock on March 12th when the Crypto KOL and chain analyst Mr. Whale revealed that the trading volume of Coinbase on the Cryptocurrency Exchange had decreased by 99.2% in the past 24 hours. This is the first time in history that the trading volume has plunged to such a low level, leaving investors and experts alike puzzled about the reasons behind the slump.

According to reports, the decrease in trading volume on Coinbase may be due to the US dollar stable currency (USDC), which is partially owned by Coinbase, triggering the anchoring in the bankruptcy of Silicon Valley banks. This has led to widespread panic among investors and traders, as they fear that their investments and earnings could be lost due to the bankruptcy of the banks.

The news has sent shockwaves across the crypto market, which has already been reeling from the effects of the ongoing pandemic. The decrease in the trading volume of Coinbase has also had a knock-on effect on other major exchanges, causing a dip in the overall value of cryptocurrencies. It has also raised concerns about the stability and reliability of stablecoins and cryptocurrency exchanges.

However, experts have cautioned against jumping to conclusions about the reasons behind the slump, pointing out that there could be other factors at play. For instance, the decrease in trading volume could be due to a general decrease in trading activity or market conditions. It is also possible that the slump is temporary and that the trading volume will bounce back in the coming days.

Despite the uncertainty surrounding the situation, it is clear that the decrease in the trading volume of Coinbase has caused significant disruption in the crypto market. Investors and traders will need to closely monitor market conditions and developments in order to make informed decisions about their investments.

In conclusion, the decrease in the trading volume of Coinbase has raised serious concerns about the stability and reliability of the cryptocurrency market. Investors and traders are advised to exercise caution and stay informed about market conditions in order to make informed decisions about their investments.