2024

Uniswap

Bitcoin

April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/surge-in-trading-volumes-at-major-crypto-exchanges/" data-wpel-link="internal">Surge in Trading Volumes at Major Crypto Exchanges</a> 
A new report indicates that transaction volumes at global centralized cryptocurrency exchanges (CEX) like <a href="https://en.coin-turk.com/binance-to-remove-five-trading-pairs-for-enhanced-user-protection/" data-wpel-link="internal">Binance</a> have significantly increased since the end of last year. According to the Bybit Corporate Report 2024, many CEXs have tripled their monthly transaction volumes from October 2023 to March 2024. 
<h2 class="p1" style="text-align: justify" id="crypto-exchanges-break-volume-records">Crypto Exchanges Break Volume Records</h2> 
The Bybit report published on April 18 shows that OKX’s 30-day volumes have increased by up to 278% since last October, with Binance following at a 239% increase. Bybit exchange also emerged as one of the fastest-growing platforms with a 264% increase in volume. A Bybit spokesperson stated that all three exchanges exceeded the industry’s average growth rate of 255%. The US-based exchange Coinbase, however, slightly lagged behind with a 193% increase in volumes. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-341731 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/bybit.webp" alt="" width="1030" height="492"> 
According to Bybit, the significant growth trends in CEX volumes are largely due to price increases following the approval of spot <a href="https://en.coin-turk.com/bitcoin-critic-peter-schiffs-alarming-btc-explanation-pay-attention-to-this-formation/" data-wpel-link="internal">Bitcoin</a> exchange-traded funds in the US for Bitcoin and Ethereum. A Bybit representative shared the following statement: 
<blockquote> 
 “For volume sections, we compare 30-day volumes to eliminate daily volatilities in volume figures.” 
</blockquote> 
The spokesperson added that Bybit analysts compared October 2023 trading data with March 2024 to demonstrate the increase in volume and see market share changes among CEXs. 
<h2 class="p1" style="text-align: justify" id="details-on-the-futures-market">Details on the Futures Market</h2> 
OKX, although outpaced by Binance in terms of growth rate, continues to be the largest cryptocurrency exchange by market share according to Bybit’s data, accounting for at least 58% of the total spot transaction volume. Bybit ranks as the second largest exchange by market share as of March 2023, holding 9.6% of the market. Competitor OKX accounts for approximately 9% of the total crypto trade volume. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-341730 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/bybit-veri.webp" alt="" width="1126" height="477"> 
According to Bybit data, the volume of Uniswap v3 increased by 320%, meaning the growth trend of CEXs did not surpass that of decentralized exchanges (<a href="https://en.coin-turk.com/bitcoin-btc-falls-below-26000-level/" data-wpel-link="internal">DEX</a>). Futures-focused CEXs also slightly increased their 30-day transaction volumes; Binance, the largest futures player, recorded about a 66% increase during the period. The report included the following statement: 
<blockquote> 
 “Almost the entire futures market for CEXs is dominated by Binance, OKX, and Bybit.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/surge-in-trading-volumes-at-major-crypto-exchanges/" data-wpel-link="internal">Surge in Trading Volumes at Major Crypto Exchanges</a></h5>

Surge in Trading Volumes at Major Crypto Exchanges

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