• Volumes across major exchanges like Binance and OKX continued to be lackluster.
• Implied volatility plunged, while the derivatives market also had very little to celebrate.

The crypto market continued to underperform in September, with key indicators like volumes, volatility, and Open Interest (OI) remaining subdued throughout the month.

The total cryptocurrency market cap fell by 1.8% over the past month, data from CoinMarketCap showed, as bellwethers like Bitcoin [BTC] and Ethereum [ETH] traversed in tight trading ranges.

Indeed, the king coin oscillated between $25,900 and $27,200 for most parts while ETH was stuck in the $1,600-region. The muted price action turned traders away from crypto trading platforms.

Lull in spot, derivatives markets

According to digital asset research firm Reflexivity Research, volumes across major exchanges like Binance [BNB] and OKX continued to be lackluster. This was in stark contrast to the previous years, when traders frequently flipped their holdings for quick profits.

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Author: Aniket Verma

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