Centralized Crypto Exchanges Experienced Major Trading Volume Uptick Last Month

Centralized exchanges experienced a significant increase in trading volume during April 2019, according to the monthly exchange review from cryptocurrency data analytics company CryptoCompare.

The April 2019 Exchange Review found that decentralized exchanges claimed just 0.068% of global spot exchange volumes, with an aggregate monthly total of USD 17 million.

Monthly volumes on fiat to cryptocurrency exchange platforms reportedly increased overall by 85%. South Korean exchange Bithumb held its title as the top exchange by trading volume during April, disclosing a total of USD 17 billion throughout April.

Upbit and Bitfinex held second and third place, Upbit enjoying a 20% increase to hit a trading volume of $8.7 billion, while Bitfinex took a significant bump up 114% to reach a volume of 6.7 billion.

On crypto-to-crypto exchanges, the average volume increase was 57%, led by Chinese platform FCoin with the highest monthly volume of USD 37.1 billion.

Cryptocurrency-based derivatives, alongside other institutional products, have also been on the rise; US financial market company CME noted a 263% increase in the average trading volume of Bitcoin derivatives, CME dominating this particular market. CME also enjoyed a rise in Bitcoin futures volumes from USD 70.5 million to USD 256 million.

Despite a decision to soon cease listing Bitcoin futures products, CBOE’s futures volume increased 109% during April, hitting USD 9.9 million.

 

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Image Courtesy: Pixabay

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