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Trading volume on centralized exchanges falls 40%

NFT, crypto
Published 1 year ago
ID #1997
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Trading volume on centralized exchanges falls 40%
NFT, crypto,
Published 1 year ago

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Spot trading volume on major cryptocurrency exchanges fell 42.8% in December from the previous month.

Bitget -8%, Crypto.com -23% and BitMart -27% posted the smallest drops in trading volume, according to statistics from journalist Colin Wu.

At the same time, Phemex -76%, Bitfinex -58%, and Gate.io -57% were the leaders in the decline. Derivatives volume on major exchanges fell 47.6% from the prior month. The three smallest declines were in Crypto.com -10%, MEXC -25%, and Bitget -28%. The three main falls were registered by Phemex -85%, Deribit -62% and Bitfinex -60%.

Traffic on cryptocurrency exchanges also registers a drop

Only two platforms showed an increase in traffic: Bitfinex and Bitget, both of which showed traffic growth of 107% and 58%, respectively. Upbit -32%, Crypto.com -23%, and Kucoin -22% experienced the main declines.

Wu also released statistics on cryptocurrency exchange traffic by country. It turned out that on many platforms, Russia entered the top three countries whose residents most actively visit cryptocurrency exchanges.

The Russians visited Binance, Bybit, Gate.io, Bitfinex, Huobi and Deribit sites. The percentage of users from Russia ranged from 5.6% to 17.8% depending on the platform. At the same time, residents of Ukraine more frequently visited the OKX cryptocurrency exchange.

Stablecoins also suffer the impact


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    NFT, crypto
    Stablecoins Exchanges Trading Volume Centralized