The majority of cryptocurrency traders recorded losses on their investments last month, according to a report we’ve covered in The Daily. In this edition, we also look at the new debit cards allowing customers in Singapore to spend cryptocurrencies anywhere Visa is accepted and the decision of a large cryptocurrency mining company to move one of its farms from Sweden to Colorado.
Also read: Royal Mint Drops Digital Gold, Malta Issues Warning About Trading Platform
Report Depicts Bleak September
September was a busy but not an optimistic month for the crypto space, according to a report published by OK Blockchain Capital – the investment arm of OK Group, operator of cryptocurrency exchange Okex. The monthly survey among investors found that most of them had suffered small losses (25.47%), “essentially flat” (24.53%) or large losses (23.58%). A little over 14.15% of traders made small gains, while another 5.19% remained on the sidelines. The market situation was rather bleak, the authors have concluded.
The study confirms a continued downward trend in the value of digital assets throughout September. However, the trading volume rebounded significantly toward the end of the period. According to the aggregated data, the average global daily market cap of digital assets was $211.103 billion, down 10.27% from August. At the same time, the transaction volume reached $13.526 billion, up 5.15%. The top three cryptocurrency holdings last month were BTC (23.11%), EOS (16.04%) and ETH (12.26%).
The report also lists the industry buzzwords for September, including stablecoins, bitcoin mining machines, Bitmain, and the Ethereum “Difficulty Bomb.” Iran’s decision to recognize cryptocurrency mining, the ongoing court proceedings around the RBI ban in India, and regulatory developments in Japan and the
