Crypto Exchange Trading Volume Sinks Amid Debt-Ceiling Talks

Crypto News: A delay in the crucial talks between U.S. President Joe Biden and House of Representatives Republicans Kevin McCarthy has left the financial market waiting and confused. The global crypto market cap registered a marginal surge over the past day. However, its 24 hour trading volume has taken a hit of 23% as buyers and sellers are looking out for clarity.

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Data Depicts that the top crypto exchanges‘ spot trading volume dropped by a huge margin over the past day. Binance, the world’s largest crypto exchange trading vol dipped by over 34% in the last 24 hours. It now stands at around $3.3 billion.

Coinbase, the U.S. biggest crypto exchange trading vol declined by almost 40% over the past day to stand at $302 million. However, Kraken registered a slide of around 48% in its 24 hour trading volume to stand at $142 million.

Source: CoinMarketCap

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According to reports, U.S. President Joe Biden is planning to talk with Kevin McCarthy on Sunday over raising the federal $31.4 trillion debt ceiling. Biden is attending the G7 summit organized in Japan. However, he’ll be having conversations with the top speaker after a reported disagreement between the officials. Read More Crypto News Here…

Supposedly, the deadline of June 1, 2023, is closing in. The Treasury Department issued a warning to the top authority that they might not be able to pay all its debts. However, this could prompt a default which can start chaos in the financial market and might push the authority to increase interest rates.

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