Binance, the world's largest cryptocurrency exchange, experienced a 48% drop in spot trading volume for the second consecutive month in April. This decline is in line with the industry's overall decrease in transaction levels, with centralized exchanges experiencing a 40% drop in volume. The uncertainty surrounding macroeconomic conditions such as the threat of recession and the collapse of several U.S. banks contributed to this trend. Despite this, Binance remains the largest exchange with a market share of 46%, while its competitors Coinbase and OKX accounted for only 5.60% and 5.39% of total spot trading, respectively.