According to CryptoPotato on the 10th (local time), on-chain analysis company CryptoQuant reported in a report that Bitcoin spot trading volume
It was revealed that the volume of spot trading of altcoins fell sharply from $44 billion on February 3rd to $10 billion at the end of the first quarter. During the same period, the volume of spot trading of altcoins also fell sharply from $122 billion to $23 billion.
However, despite the overall decline in trading volume, trading activity on Binance remained relatively active, which explains why the decline in trading volume on Binance was smaller than on other exchanges.
At the same time, it highlights Binance's role as a major source of liquidity during times of market volatility.
In fact, from February 3 to the end of the first quarter, Binance’s share of Bitcoin spot trading volume rose from 33% to 49%, while Altcoin
Binance's crypto spot trading volume also grew from 38% to 44%. Binance now accounts for nearly half of all crypto spot trading volume.
In particular, the two days from February 24th to 26th saw the price of BTC plummet from $96,000 to $90,000.
In 2019, Binance's spot trading volume was higher than all other exchanges combined, according to CryptoQuant.
Instead, altcoin spot trading volume on Nonce increased by 64%, with roughly $18 billion in transactions taking place.
On the other hand, Binance handles the exchange of large altcoins such as BNB, TON, and EOS.
It was found that trading activity remained steady despite a decline in overall market trading volume.
2025/04/11 17:05 KST
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