‘Bitcoin’ is the cause! Heavy Price Drop Makes ‘Thai Retailers’ Trading in Crypto Lowest in 17 Months

Found that Thai retail investors traded the lowest cryptocurrency in 17 months due to the heavy drop in bitcoin value.

Securities and Exchange Commission (SEC) reveals an overview of the digital asset market, found in the past week The global digital asset market has a market capitalization or market cap of $1 trillion or about 37 trillion baht.

bitcoin price drop Reasons for retail investors to trade less

Although the latest trading volume is $100 billion per day, more than 39 percent of these are from Bitcoin (BTC) at the beginning of the year. It was mainly a drop in domestic retail investors. and has continued to decline.

However, the market has compensated. of domestic corporate investors’ turnover has increased continuously since June, but foreign corporate investors are still the main net buyer since March. In terms of the group that sold the main net during the last month was the group of natural people. or retail investors

lower turnover Consistent with the reduction in the Active account balance as well. In particular, retail investor accounts, which are the lowest since April 2021, or their lowest in 17 months, the SEC noted that the decline in active account balance is in line with the direction of Bitcoin (BTC) prices to decrease

Although the total number of trading accounts each month continues to increase. but the number of new accounts opened has started to slow down in the last 3 months (June-August).

Looking at the returns of popular digital assets in Thailand, the year so far remains negative: Ethereum (ETH) – 53.93% – BTC – 54.97% – Ripple (XRP) – 58.11% and tight (KUB) negative 87.31%

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