Centralized crypto exchange trading volume falls to $5.2T in May

📆 6/5/2024 4:53 PM
📰 Cointelegraph

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Binance continues to top the charts with a 34.6% market share in spot trading and 45.4% in derivatives trading.

According to the latest report by CCData, In May 2024, the cryptocurrency marketThe combined trading volume on centralized exchanges fell by 20.1% to $5.27 trillion during the month. This decline marks the second consecutive month of reduced trading activity, driven by the rangebound price of Bitcoin (Spot trading volumes on centralized exchanges dropped 21.6% to $1.57 trillion. The derivatives market also experienced a decline, with volumes decreasing by 19.4% to $3.69 trillion.

In the derivatives market, Binance's dominance grew to 45.4%, trading $1.68 trillion in monthly volume, followed by OKX and Bitget with market shares of 21.3% and 14.5%, respectively.

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