As per reports, in April the centralised crypto exchanges saw a downfall in trading volumes for the first time after three months, stated Cointelegraph. It is expected that the digital assets market saw a fall from the first quarter when it was trending.
With insights from Kaiko, a blockchain data provider, the volume in April was almost half in comparison to March, amounting to about $500 billion, added Cointelegraph.
“Trade volumes on #CEXs declined in April after rising for three consecutive months and surpassing pre-FTX levels in March. Overall, however, the crypto market remains significantly larger than it was before the 2020 bull run,” Kaiko, a blockchain data provider, tweeted.
Sources revealed that the centralized exchange spot volume decreased by 43.8% to $400.5 billion in April.“The majority of the decrease is due to Binance adding back fees on BTC pairs,” Lars0x, a blockchain analyst, told Cointelegraph.
(With insights from Cointelegraph)