U.S. crypto exchange Coinbase reported just $56 billion in consumer trading volumes in the first quarter of 2024, when bitcoin leapt to record heights close to $74,000.
"It's the million-dollar question in crypto right now - when will retail traders come back?" said Michael Rinko, analyst at Delphi Digital. Some small-time investors are still nursing the chills of the more than two-year long crypto winter, when bitcoin stayed limp at levels between $20,000 to $30,000.
"The key force behind the reduced activity stems from lessons learned throughout the harrowing year, which was 2022," said Vetle Lunde, analyst at K33 Research.
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