Per a Q2 report from CCData, decentralized exchange increased monthly volumes by 27.6% compared to last year. "Uniswap V3 has taken the lead in terms of trading volume, capturing 50.3% average monthly market share of the total decentralized exchange volume," the report states.
Spot trading volume on some of the largest centralized cryptocurrency exchanges plummeted 40.2% to $621B in April from a month ago, according to a recent report by crypto data provider CCData, marking the lowest figure since December.
Binance, the world’s largest cryptocurrency exchange, has reported a 48% decrease in spot trading volume for the second month in a row, according to CCData research firm.
CCData says Binance’s spot market share fell to levels before the November collapse of rival FTX, with spot trading volume on the exchange dropping by 48% to $287 billion in April. That marked its second-lowest monthly trading volume since 2021. And its overall market share also declined, the data provider said.
Spot trading volume at, the world’s largest cryptocurrency exchange, dropped for a second straight month in April, falling 48% amid declininglevels across the industry, according to CCData.
Assets under management for digital asset investment products, offered by companies such as Grayscale, rose to $33.5bn by the end of last month, data from provider CCData has found. That’s the fifth consecutive month of growth and a 70 per cent return year to date. Still not as high as last summer’s, but it’s a start.
The degree to which a market can absorb large orders without major changes to the price of bitcoin has declined since the start of the year, according to data provider CCData.
In January it would have required the purchase of more than 1,400 bitcoins, roughly equivalent to $23mn at the time, to move the price of the token by more than 1 per cent of its prevailing market value, CCData said.
Global regulators have long worried that stablecoins could grow to a size where they pose a considerable risk to financial stability. That makes perfect sense of course; but right now the stablecoin market is going in the other direction.
According to numbers provided by data analytics platform CCData, the total circulating value of stablecoins has been declining for more than a year. In April, the total stablecoin market cap fell more than 1 per cent to $131bn, its lowest point since September 2021.
Founded in 2017, Binance grew rapidly by offering a marketplace for a wide selection of experimental cryptocurrencies and allowing customers to make a type of risky, highly leveraged bet on crypto prices that remains illegal in the United States. About two-thirds of all crypto trades take place on Binance’s platform, according to CCData, a data analysis firm.
Coinbase’s trading volumes in the past three months have also been lower than that of Uniswap, a little-known trading network that allows users to buy and sell digital assets directly with each other and bypass intermediaries that might charge fees, like an exchange.
Data analytics platform CCData found that Uniswap facilitated almost $69bn in trading volume in March, in comparison to Coinbase’s $49bn.
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