Cryptocurrency Trading Volume Declines for 10 Months, Market Cap Rises 21%
Cryptocurrency trading volume has been declining for 10 consecutive months, while the total market capitalization rebounded by 21% over the past week. Goldman Sachs reported in a document dated August 24, 2026, that trading volume decreased by 30% in July and 21% in August, continuing a downward trend for 10 months. Although trading volume has dropped by 75% from its peak, the market cap has seen a rebound. There is a possibility of a turning point in trading volume; however, this is a conditional analysis that does not definitively determine price direction but suggests that the gap between market cap and actual trading activity needs to be narrowed. Since the revenue of exchanges and brokerages largely depends on trading fees, even if the market cap recovers, an increase in actual trading may take time to reflect in performance improvements. Regulatory uncertainty has been cited as the biggest obstacle by 35% of institutional investors, while 32% viewed regulatory clarity as a catalyst. Goldman Sachs analyzed that cryptocurrency companies reduced costs by an average of about 5% in 2026, and operating profit margins improved by approximately 5.8 percentage points. The outlook for the second half of the year is expressed with cautious optimism, and the recovery of trading volume will also be a key indicator for Korean investors.
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