July 4 (Cointime) - According to a new report from Kaiko, the spot trading volume of major centralized cryptocurrency exchanges, including Binance, Coinbase, Kraken, and OKX, plummeted in Q2 2023, with Binance suffering the most with a 70% drop in aggregated spot trading volume across all pairs.
The decline in trading volume was attributed to regulatory scrutiny and Binance's decision to reintroduce fees on many Bitcoin trading pairs. Additionally, Layer 2 tokens were the worst performers of Q2, with Open Interest metrics dropping by 40% in mid-June and core governance assets of second-layer solutions for Ethereum being the worst performers. Despite the downturn, a micro-rally in June 2023 has given some hope to cryptocurrency bulls.
All Comments