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Categories: Technology

Bitcoin trading volume and exchange fees dive amid Beijing’s ongoing crackdown in the name of financial stability

Bitcoin trading volumes are continuing to plummet in
response to pressures from a cryptocurrency crackdown in China, the
location of most of the world’s bitcoin mining capacity, amid a
bearish market for the most widely used cryptocurrency.Daily
trading averages fell to US$34.8 billion in the first eight days of
June, a sharp decline from the record US$67 billion last month and
the lowest for any month since last December according to
CoinDesk Research.The average bitcoin transaction fee –
the…