Cryptocurrency

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<p>The post <a href="https://coinpedia.org/news/crypto-trading-volume-plunges-after-7-month-surge-bitcoins-winning-streak-snapped/">Crypto Trading Volume Plunges After 7-Month Surge, Bitcoin’s Winning Streak Snapped</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Cryptocurrency trading volume took a downturn in April, marking the first monthly decline in seven consecutive months of growth. The decline, attributed to geopolitical tensions and reduced inflows into <a href="https://coinpedia.org/news/bitcoin-breaks-57000-level-as-9-spot-etfs-trading-volume-soars-to-all-time-high/" target="_blank" rel="noreferrer noopener">U.S.-listed spot ETFs</a>, had a significant impact on both spot and derivatives markets.</p> 
<h2 class="wp-block-heading" id="h-decline-in-trading-volume-nbsp">Decline in Trading Volume&nbsp;</h2> 
<p>According to a report by London-based digital assets <a href="https://ccdata.io/" target="_blank" rel="noreferrer noopener nofollow">data provider CCData</a>, the combined volume in spot and derivatives markets fell sharply by 43.8% to $6.58 trillion, down from March’s record high of $9.12 trillion.</p> 
<p>The drop in trading activity was particularly pronounced in derivatives markets, which experienced a decline of 47.6% to $4.57 trillion. Concurrently, the spot market volume saw a more modest decrease of 32.6% to $2.01 trillion.&nbsp;</p> 
<p>Meanwhile, the CCData attributed this decline to unexpected macroeconomic data, escalating geopolitical tensions in the Middle East, and negative net flows from U.S. spot bitcoin ETFs.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-volume-drop-by-15">Bitcoin Volume Drop By 15%</h2> 
<p><a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> (BTC), the dominant cryptocurrency by market value, <a href="https://coinpedia.org/news/bitcoin-price-crash-could-trigger-3-billion-liquidation/" target="_blank" rel="noreferrer noopener">suffered a notable 15% decline</a> in April, breaking its streak of seven consecutive months of gains. The sell-off was triggered by renewed risk aversion amid geopolitical uncertainties, reduced expectations of rapid Fed rate cuts, and strength in the U.S. dollar index.</p> 
<p>The broader cryptocurrency market also experienced significant declines, which tracks the most liquid digital assets, plummeting by nearly 20%. The total market capitalization of the crypto market fell by 16.8% to $2.177 trillion during the month.</p> 
<h2 class="wp-block-heading" id="h-impact-on-binance-exchange">Impact on Binance Exchange</h2> 
<p>Binance, the largest crypto exchange by volume, saw its market share decline to 41.5% in April, with combined spot and derivatives trading volume falling by 39.2% to $679 billion. This decline coincided with news of the exchange’s founder and previous CEO, Changpeng Zhao, being sentenced to prison for violating U.S. money laundering laws.</p> 
<p>Since Zhao’s departure and <a href="https://coinpedia.org/news/binance-ceo-reveals-crucial-information-on-exchange-headquarters/" target="_blank" rel="noreferrer noopener">Richard Teng</a> taking over as CEO, Binance’s spot market share has rebounded slightly to 33.8%, according to CCData.</p> 
<p>Overall, April’s decline in trading volume and market performance underscored the sensitivity of cryptocurrencies to macroeconomic factors and geopolitical events, highlighting the need for investors to navigate market conditions with caution.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/hong-kongs-bitcoin-and-ethereum-spot-etfs-coming-to-singapore/">Hong Kong’s Bitcoin and Ethereum Spot ETFs Coming to Singapore</a></p>

Crypto Trading Volume Plunges After 7-Month Surge, Bitcoin’s Winning Streak Snapped

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