Crypto Exchanges Sees Drastic Decrease in Monthly Trading Volume

Leading crypto exchanges – including Binance, Coinbase, Bybit, Crypto.com, etc., – person witnessed a drastic alteration successful monthly trading measurement for February arsenic the marketplace cools down aft Trump’s inauguration pump and crypto assets commencement to spot immense sell-off. 

Wu Blockchain’s February CEX Data Report shows that Binance has seen a driblet of 17.4% successful spot trading measurement for February with the fig reaching $646 cardinal portion it had accumulated $782.14 cardinal successful January.

Similarly, Crypto.com has besides recorded astir 30% driblet successful February spot trading measurement portion Bybit, Coinbase and Gate.io seeing a driblet of 21.6%, 19.5% and 16% respectively. 

The driblet besides continues for futures trading with the full crypto futures trading measurement dropping 17% successful February, compared to that of January. Binance unsocial has marked a driblet of 19.7% portion Bybit, Bitget, Kucoin and Kraken are digesting important drops of implicit 20% for the month. 

Crypto Exchanges Sees Drop successful Trading Volume – Source: Wu Blockchain

In January, determination was overmuch anticipated lawsuit of Trump’s inauguration, which drove a immense uptrend successful crypto markets, frankincense the trading measurement reaching caller highs. However, the period of February had important pumps and dumps successful Bitcoin price but it has lacked to lucifer the full trading measurement of January. 

This driblet besides magnifies connected outflows from the crypto manufacture aft Trump’s inauguration. It mostly revolves astir short-term traders and investors who ran into markets conscionable to payment with speedy terms upsurges until Donald Trump moves into the White House. 

Besides trading volume, crypto exchanges person besides seen a immense alteration successful website traffic, which has dropped by 20% successful February. 

“The website postulation of large CEXs successful February decreased by 20% compared to January. The apical 3 CEXs successful presumption of alteration complaint were HTX +45%, OKX +15%, and Bitget +6%. The bottommost 3 CEXs were KuCoin -62%, Upbit -35%, and Coinbase -29%.” reads the report. 

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