- This follows a CCData report
- The figure is declining for the second month in a row
- Experts attribute this to overheating in the first quarter and regulatory pressure
- The hardest hit was Binance, which lost a hefty market share
Trading volume in May on the spot and crypto derivatives market declined 15.7%.. Fall continues for the second month in a row. Experts attribute this to growing regulatory pressure on the industry.
This is according to a report by analyst firm CCData released June 7.. A similar situation was observed in April. At the time, total trading volume on the major platforms was cut in half, to $500 billion.
From all major exchanges, Binance was the hardest hit.. In May, the company lost part of its market share, which fell to 43% (the peak from February – 57%).. This is largely due to the fact that the platform canceled zero-commission trading pairs at the end of March.
As a result, trading volume on the site steadily declined in both April and May.. But Bullish, Bybit and BitMEX increased their market share by 1%.</nbsp;
Worthy, the report takes into account figures as of the end of May, before the lawsuits against Binance and Coinbase.. Apparently, in June the fall will be even more noticeable.
In addition, according to experts, the decline in trading volume will continue, as markets have reached an overheating in Q1 2023.. This can be seen in the chart above.</nbsp;
There is a significant difference between the value of the indicator in March and April, and it does not look like a correction. Apparently, trading volume will not recover until the situation stabilizes.