As Crypto Volume Declined, Binance Takes Further Lead Over Other Exchange: CryptoQuant
Bitcoin (BTC) and altcoin spot trading volumes have declined as crypto prices entered into correction mode in the last two months, with crypto exchange Binance emerging as the preferred avenue for traders, according to a report from CryptoQuant.
Total bitcoin spot trading volume on crypto exchanges declined from a high of $44 billion on February 3 to $10 billion at the end of Q1, a nearly 77% drop, according to the analytics firm. Meanwhile, total altcoin spot trading volume on crypto exchanges declined from a high of $122 billion on February 3 to $23 billion at the end of Q1 — a more than 80% fall.
A volume drop of such magnitude suggests traders and investors are losing interest or confidence, possibly due to uncertainty or fear….
