CCData Study: Trading Volume on Centralized Exchanges Drops by 19.3%
According to CCData, trading volume on the Coinbase exchange declined by 52% in the third quarter, with spot transactions amounting to $76 billion.
This trend was reflected across most crypto exchanges, with a 19.3% decrease in spot trading volume on major platforms in September.
Trader activity on these exchanges is currently at a low that has not been seen since October 2020.
Specifically, exchanges such as KuCoin and Crypto.com have experienced a 31% drop in cryptocurrency transactions over the past 30 days.
Binance, OKX, Huobi, and Coinbase also saw significant declines in trading volume, with Binance decreasing by 25% from $189 billion to $133 billion.
Overall, the total volume of transactions on 13 major Bitcoin exchanges dropped by 19.3% over the past month, from $406 billion to $328 billion.
The crypto derivatives market also saw a decrease in trading volume from $1.9 trillion to $1.6 trillion.
