Centralized Exchange Trading Volume Down 20% in May to $5.27 Trillion
CryptoNewsTerminal Staff05 Jun, 2024
Centralized Exchange Trading Volume Down 20% in May to $5.27 Trillion
Centralized exchanges saw a significant drop in trading volume in May, with spot and derivatives trading combined reaching $5.27 trillion, a 20.1% decrease compared to the previous month. This decline follows a broader market downturn in May, with the total crypto market capitalization falling by over 15%. Despite the overall decline, some exchanges saw an increase in trading volume. Binance, the world's largest crypto exchange, saw its spot trading volume increase by 2.6% to $1.6 trillion. Other exchanges that saw an increase in trading volume include FTX, Coinbase, and OKX. The decline in trading volume is likely due to a number of factors, including the broader market downturn, increased regulatory scrutiny, and the collapse of the Terra ecosystem.
