Crypto Exchange Volume Hits Lowest Level of the Year: What It Means

• The 7-day moving average of exchange volume for cryptocurrency exchanges has hit a new low year to date.
• Purchasing a pizza with Bitcoin 13 years ago would have cost $365 million today.
• Long-term holder supply has hit an all-time high and suggests a “Put Premium” with the 1-month 25D Skew.

The Pizza Bought With Bitcoin Years Ago Would Be Worth Millions Now

13 years ago, someone made history by purchasing a pizza with Bitcoin – and that same pizza would now be worth over $365M today. This astronomical growth in value showcases how far the cryptocurrency market has come since its inception, and shows no signs of slowing down any time soon.

Liquidity Evaporating & Exchange Volume at Lowest Level of Year

Recent data from Glassnode indicates that liquidity is evaporating on crypto exchanges, with spot market total volume hitting its lowest level year to date. The 7-day moving average of exchange volume is currently $10.4 billion, which is considerably lower than its peak this year in March ($46.26 billion). This lack of liquidity could lead to more volatility in the market as time goes on.

One Year After Luna Collapse: BTC Hodlers Show Resolve

It’s been just over one year since the infamous collapse of Luna – one of the world’s biggest Ponzi schemes – yet Bitcoin hodlers remain resilient despite this setback. Long-term holder supply has reached an all-time high as people continue to show faith in digital assets, signaling that there could be even more gains ahead for cryptocurrencies like Bitcoin in the future.

Bitcoin’s 1 Month 25D Skew Suggesting Put Premium

Another interesting development lies within Bitcoin’s 1 month 25D skew – which is suggesting a “put premium” for those who are looking to hedge against potential losses due to market volatility or other concerns related to their investments. This type of move could be seen as an indication that investors are becoming savvier about how they manage their portfolios, taking measures such as hedging into account when making decisions about where they put their money.

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