Bitcoin (BTC) continues to sustain its elevated levels for yet another month in succession, hovering
just shy of its all-time peaks. This trend has been a catalyst for increased investor engagement and, as a result, a surge in transaction volume across major cryptocurrency exchanges. In the month of May, the combined spot trading volume for the top ten crypto exchanges surpassed $1 trillion, marking a significant 173% growth from the previous year’s corresponding month.
When we examine the trading volumes for the most prominent crypto exchanges, it’s apparent that May experienced a second consecutive downturn following an exceptional March. The decline in April was considerable, with a
60% drop post-Bitcoin halving, with an average monthly diminution of 22% occurring in May.
Every exchange included in the Finance Magnates assessment showed a noticeable decline from April to May. Binance, the market leader, relinquished 22%, seeing its volume contract to slightly less than $550 billion.
#Cryptocurrency #Exchange #Spot #Volumes #Surge #Year
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- Source: https://cryptoinfonet.com/crypto-trading/annual-surge-exceeds-170-in-cryptocurrency-exchange-spot-trading-volumes/