Cryptocurrency Trading volumes fell 40% in June.

Research has found that trading volumes on major cryptocurrency platforms fell by more than 40% in June amid regulatory restrictions in China and a lack of volatility was one of the factors affecting the activity.

Data from London-based research firm CryptoCompare showed that spot transaction volumes fell 42.7% to $2.7 trillion, with derivatives volumes down 40.7% to $3.2 trillion.

Bitcoin, the largest cryptocurrency, fell more than 6% last month, its lowest level since January, after authorities in China tightened restrictions on currency trading and mining operations.

Bitcoin plunged 35% in May, with losses stemming from Beijing’s moves to rein in the fast-growing sector. Cryptocurrency trading volumes tend to rise during periods of extreme price volatility.