Papertrade trading heat cools down: single-day revenue drops 83% month-over-month, trading volume drops 43% month-over-month.

BlockBeats news, October 18 - According to DefiLlama data, Papertrade's revenue dropped to $890,000 on October 17, ranking 7th among all protocols, a decrease of 83% from the previous period. It had previously surpassed Circle to rank second globally.

According to Papertrade's official data, the platform's trading volume on October 17, based on UTC calendar days, was approximately $54.23 billion, down 43% from $96.52 billion on October 16, and down 90% from its peak of $564.23 billion on October 10.

The number of transactions and new accounts also declined. On October 17, the number of transactions was 135,227, down 40% from 226,541 the previous day; new accounts were 622, down 53% from 1,322 the previous day.