Investor interest continues to wane as cryptocurrency trading volume hits a new low for the year in August.

According to Dolphin Research, the trading volume of cryptocurrencies in August reached its lowest level this year, marking another sign of waning investor interest since the digital asset prices plummeted from their historical highs at the end of 2021. Data compiled by CCData shows that the monthly total trading volume of spot and derivative transactions, so-called, decreased by 11.5% to $2.09 trillion, the second lowest monthly total since October 2020.

"Ince April this year, the trading volume of centralized exchanges (spot) has been consistently low, and now it is comparable to the stagnant trading activity during the bear market in 2019," said CCData in a report released on Thursday.

This lukewarm interest seems to have continued into September. Bitcoin, which accounts for about half of the $1 trillion market value of cryptocurrencies, remained virtually unchanged for most of the first week of September, hovering around $25,800 on Thursday. In contrast, in November 2021, this cryptocurrency reached nearly $69,000 at one point.

Breaking it down, CCData's data shows that the trading volume of derivative transactions on centralized exchanges decreased by 12.3% to $1.62 trillion, the second lowest level since December 2020.

The spot trading volume on centralized exchanges has declined for the second consecutive month, dropping by 7.78% to $475 billion, the lowest monthly spot trading volume since March 2019. On August 26, the daily trading volume on centralized exchanges was $5.9 billion, the lowest level since February 7, 2019.

Although Binance remains the largest cryptocurrency spot trading exchange, its market share has shrunk for the sixth consecutive month, reaching 38.5%, the lowest level since August 2022, according to CCData.