Cryptocurrency Exchange Volume Report Released: Here’s How Binance, Coinbase, Bybit and 10 Other Exchanges Performed :
According to a recent analysis, the cryptocurrency market has experienced a significant decline in trading activity, with both spot and derivative trading volume experiencing a significant year-on-year decline, reaching its lowest levels since October 2020.
Statistics based on data from major stock exchanges reveal a decline in market activity.
Spot trading volume on major cryptocurrency exchanges fell by a significant 19.3% year-on-year in September. This marks the lowest point in nearly three years, with the last comparable figures recorded in October 2020.
The stock markets leading the decline are:
KuCoin: -32%Binance: -30%Huobi: -25%
Binance, one of the largest cryptocurrency exchanges, experienced a staggering 29.7% drop in spot trading volume in September, with trading activity falling from $189,759,502,080 to $133,376,698,042.
Derivatives trading volume on major exchanges also took a significant hit, falling 19.6% year-on-year in September. This situation supports the downward trend seen in spot trading.
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