Centralized crypto exchange trading volume falls to $5.2T in May

📆 6/5/2024 4:53 PM
📰 Cointelegraph

⏱ Reading Time:
10 sec. here
2 min. at publisher
📊 Quality Score:
News: 7%
Publisher: 51%

Coin Coin Headlines News

Binance continues to top the charts with a 34.6% market share in spot trading and 45.4% in derivatives trading.

According to the latest report by CCData, In May 2024, the cryptocurrency marketThe combined trading volume on centralized exchanges fell by 20.1% to $5.27 trillion during the month. This decline marks the second consecutive month of reduced trading activity, driven by the rangebound price of Bitcoin (Spot trading volumes on centralized exchanges dropped 21.6% to $1.57 trillion. The derivatives market also experienced a decline, with volumes decreasing by 19.4% to $3.69 trillion.

In the derivatives market, Binance's dominance grew to 45.4%, trading $1.68 trillion in monthly volume, followed by OKX and Bitget with market shares of 21.3% and 14.5%, respectively.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'ADA Is Extremely Centralized': Justin Bons Slams Cardano, Community Strikes BackCryptocurrency expert Justin Bons claims Cardano (ADA) is highly centralized, sparking strong response from community
Source: Utoday_en - 🏆 295. / 63 Read more »

Ledn sees growth in centralized lending, processes $690 million in crypto loans in Q1Ledn's crypto loan growth was spurred on by demand from former Celsuis clients and the launch of U.S. spot bitcoin ETFs, the firm said.
Source: TheBlock__ - 🏆 464. / 53 Read more »