Crypto Trading on CEX Declines
Crypto trading on centralized exchanges, or CEX, dropped for the first time in the past three months. According to a Kaiko report, April crypto trading volume was more than halved from March, reaching over $50 billion.
It is the first time that crypto trading volume has hit its lowest point compared to March, after crypto trading on the CEX exchange has been on the rise for three consecutive months. Crypto is still more mature than it was before 2020.
Data from The Block also revealed that spot trading on licensed crypto exchanges fell 43.8% to about $400 billion in April.
The report indicates that:
“Crypto Trading Decrease Due to Binance Increasing Fees for BTC Pairs”
Binance is a leading crypto exchange with a market share of 71.6%, with a trading volume of around $10 billion over the past 24 hours.informationAccording to CoinGecko, Binance’s Bitcoin Reserves Increase by Over 50,000 BTC in 1 Month
informationAccording to Yahoo Finance, trading volumes on the Coinbase app have been declining lately as the crypto market continues to sideways.
The value of the crypto market has plummeted.
Crypto trading volume on the CEX exchange started to dwindle after the crypto market began to fall from its mid-April highs. Growth hit an 11-month high of about $1.34 trillion. But at the moment, the crypto market cap has dropped by 7.5% since then. The market cap is now $1.24 trillion, according to CoinGecko.
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