Express
Cryptocurrency Trading Volumes On Centralized Exchanges Fell 17.6% In October, New Report Finds
Summary: Cryptocurrency trading volumes dropped by 17.6% in October despite Bitcoin's rally, according to a recent report from CryptoCompare. The report highlighted large decreases in overall spot trading volumes for exchanges CryptoCompare believes posts accurate figures. Binance reported $75.7 billion, down 33.1% and Huobi Global posted volumes of $41.7 billion, a 31.4% decline. Coinbase fell 17.5% to $11.3 billion, Kraken fell by ...
Cryptocurrency trading volumes dropped by 17.6% in October despite Bitcoin's rally, according to a recent report from CryptoCompare.
The report highlighted large decreases in overall spot trading volumes for exchanges CryptoCompare believes posts accurate figures. Binance reported $75.7 billion, down 33.1% and Huobi Global posted volumes of $41.7 billion, a 31.4% decline. Coinbase fell 17.5% to $11.3 billion, Kraken fell by 13% down to $6.5 billion, and Liquid fell by 4.3% to $6.1 billion.
A rising number of active Bitcoin addresses and increase in the average transaction size reported by Glassnode signals that individuals are still using Bitcoin, but they may not be sending it to exchanges. Decentralized exchanges like Uniswap may also be stealing volumes from centralized exchanges.
By Emily Mason
Tags: Binance,Coinbase,Crypto Exchanges,Cryptocompare,Huobi Global,Kraken,Liquidity,Uniswap
Link: Cryptocurrency Trading Volumes On Centralized Exchanges Fell 17.6% In October, New Report Finds [Copy]
