Crypto Exchange Volumes Dwindle as Bear Market Blues Persist
The post Crypto Exchange Volumes Dwindle as Bear Market Blues Persist appeared on BitcoinEthereumNews.com. Centralized crypto exchanges are seeing trading volumes dwindle as the bear market bites deeper. Moreover, trading on some of the industry’s largest exchanges has slumped more than 20% in the last month alone. Industry outlet Wu Blockchain has detailed the dire state of centralized exchange volumes in a released report on October 16. Crypto Exchange Trading Falls Spot trading volumes on major exchanges decreased by 19.3% month-on-month in September. It has fallen to its lowest level since October 2020, three years ago, the report revealed. Almost half of the exchanges analyzed had dropped more than 20% of their volume from August to September. The biggest losses were on KuCoin and Crypto.com, dropping 32% and 31% of their monthly trading volumes, respectively. Binance trading volume fell almost 30% in September to $133 billion from $189 billion in the previous month. Huobi lost 25% in a fall from $31 billion in August to $23 billion in September. Moreover, OKx’s trading volume fell 21% month-on-month, while Coinbase lost 20%. The total decline for the month across the 13 exchanges measured was 19.3%, from $406 billion in August to $328 billion in September. Centralized crypto exchange volumes. Source: Wu Blockchain Moreover, crypto derivatives volumes also declined across the board. The total monthly decline in futures trading volumes was around 15% from $1.9 billion to $1.6 billion in September. Crypto.com, KuCoin, and Bitget saw the largest declines in derivatives trading for the month. However, the report did note that some of the trading figures may be influenced by bot or wash trading. Additionally, web traffic to major crypto exchanges has also fallen in September. The average traffic decline month-on-month across the exchanges was 17.4%. Bear Market Blues According to DeFiLlama, decentralized exchange volumes have been relatively stable over the past few months. The current weekly…
The post Crypto Exchange Volumes Dwindle as Bear Market Blues Persist appeared on BitcoinEthereumNews.com.
Centralized crypto exchanges are seeing trading volumes dwindle as the bear market bites deeper. Moreover, trading on some of the industry’s largest exchanges has slumped more than 20% in the last month alone. Industry outlet Wu Blockchain has detailed the dire state of centralized exchange volumes in a released report on October 16. Crypto Exchange Trading Falls Spot trading volumes on major exchanges decreased by 19.3% month-on-month in September. It has fallen to its lowest level since October 2020, three years ago, the report revealed. Almost half of the exchanges analyzed had dropped more than 20% of their volume from August to September. The biggest losses were on KuCoin and Crypto.com, dropping 32% and 31% of their monthly trading volumes, respectively. Binance trading volume fell almost 30% in September to $133 billion from $189 billion in the previous month. Huobi lost 25% in a fall from $31 billion in August to $23 billion in September. Moreover, OKx’s trading volume fell 21% month-on-month, while Coinbase lost 20%. The total decline for the month across the 13 exchanges measured was 19.3%, from $406 billion in August to $328 billion in September. Centralized crypto exchange volumes. Source: Wu Blockchain Moreover, crypto derivatives volumes also declined across the board. The total monthly decline in futures trading volumes was around 15% from $1.9 billion to $1.6 billion in September. Crypto.com, KuCoin, and Bitget saw the largest declines in derivatives trading for the month. However, the report did note that some of the trading figures may be influenced by bot or wash trading. Additionally, web traffic to major crypto exchanges has also fallen in September. The average traffic decline month-on-month across the exchanges was 17.4%. Bear Market Blues According to DeFiLlama, decentralized exchange volumes have been relatively stable over the past few months. The current weekly…
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