Spot trading volume on Binance, one of the world’s largest cryptocurrency exchanges, fell 48% in April, according to CCData, amid a decline in industry-wide trading volumes.
Trading volume in April was $287 billion, the second lowest since 2021. Market share also fell to 46%.
Binance isn’t the only company to experience a drop in trading volume. Spot volume across centralized exchanges fell 40%, its lowest since December 2022. According to CCData, uncertainty surrounding macroeconomic conditions, including multiple bank failures in the United States and growing fears of a recession, has led to a decline in trading volumes.
That said, Binance’s position in terms of trading volume remains strong. Coinbase and OKX, the second- and third-placed by volume, account for only 5.60% and 5.39% of total spot volume, respectively.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Original: Crypto Exchange Binance Trading Volume Fell Almost 50% in April
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