April

Spot

Time

Coin

<ul class="news-points">
 <li>Market trading volume dropped by 44% in April, marking the first decline in seven months.</li>
 <li>Spot and derivatives market volumes crashed to $6.58T from the previous month’s peak of $9T.</li>
 <li>Binance’s market share decreases to 41.5% amid legal issues involving former CEO Changpeng Zhao.</li>
</ul>
In April, the crypto market saw its trading volume dip for the first time in seven months. CCData, a digital assets data firm, <a href="https://www.coindesk.com/markets/2024/05/09/crypto-monthly-trading-volume-drops-for-first-time-in-seven-months-to-658t/" target="_blank" rel="noopener noreferrer nofollow">reported</a> that the combined volume across spot and derivatives markets decreased by 43.8% to $6.58 trillion. This figure marked a significant drop from the previous month’s peak of $9.12 trillion.
Furthermore, the data revealed that the crypto derivatives market saw a more pronounced decrease in investor interest last month. In particular, activities in futures and options markets dropped by 47.6% to $4.57 trillion in April. On the other hand, the spot market experienced a smaller decline of 32.6%, ending at $2.01 trillion.
CCData attributed this downturn to a mix of unexpected macroeconomic figures. It noted heightened geopolitical unrest in the Middle East and outflows from U.S. spot bitcoin ETFs. This research report confirms April was overly bearish for …
The post <a href="https://coinedition.com/global-crypto-volumes-tank-by-44-to-6-58t-first-time-in-7-months/" rel="noopener noreferrer nofollow">Global Crypto Volumes Tank by 44% to $6.58T First Time in 7 Months</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Global Crypto Volumes Tank by 44% to $6.58T First Time in 7 Months

Coin Edition

Other articles published on May 9, 2024

Bybit Web3, UCO Network, and Blockchain for Good Announce Collaborative "Blocks for Good" Bi-Week...

Unveiling Cardano Racers: The Coolest NFT Collection to Hit the Cardano Blockchain!

BlockDAG’s $23.9M Presale Outshines Bitcoin’s Market Stability And Dogecoin’s Tesla Integration

Scopuly SCOP Token: Navigating Utility and Value in the Ever-Changing Crypto Landscape

Use quantitative trading to increase your passive income – earn 1,000+ per day

AI Leader Broadcom (AVGO) Tops Big Cap 20 List: Discover New Entrants in IBD 50 and Stock Spotlight

Join our free newsletter for daily crypto updates!