According to data from analysts at CCData, April marked the first decrease in trading volume on cryptocurrency markets in seven months. The total turnover on spot and derivative platforms reached $6.58 trillion, representing a sharp decline of 43.8% compared to March's record high of $9.12 trillion.
It is noted that investors are showing less active interest in derivatives, as the volume of transactions on the futures and options market decreased by 47.6% to $4.57 trillion. Meanwhile, transaction volume on the spot market decreased "relatively moderately" by 32.6%, reaching $2.01 trillion.
Analysts believe that this decrease in trading volume is due to unexpected macroeconomic data, escalation of the geopolitical crisis in the Middle East, and outflows from spot bitcoin exchange-traded funds (ETFs) in the United States.
Earlier in CryptoQuant, it was noted that the Korean exchange Upbit captured over 80% of the country's market and entered the top five largest cryptocurrency exchanges in the world by trading volume, while experts at Kaiko calculated that Bybit's share of the BTC market grew by 7.3% since the beginning of the year.
