In September, the crypto exchange spot volumes decreased to the lowest point since June this year, i.e., to $1.67 trillion.
This is a 9.7 percent decline compared to August, when the crypto market recorded a higher trading value of 1.85 trillion, as the cryptocurrency market experienced a comparatively low month of trading, despite the increasing price of Bitcoin approaching new heights, as per the data given by
In September, Binance maintained its lead as the largest spot-volume cryptocurrency exchange with a reported volume of 636.5 billion.
This was, however, a decline compared to Augus,t which had been at 737.1billion. Bybit, after Binance, reported spot volume of 132.1 billion, Gate.io 124 billio,n and Bitget 117.9 billion.
These values indicate a slight downward trend within centralized exchanges throughout the month.
The total spot trading volume also decreased marginally to 363.4 billion in September, as compared to 368.8 billion in August, in decentralized exchanges (DEXs). It is also important to note that the trading amount of Uniswap decreased dramatically to 106.5 billion compared to 143 billion.
However, PancakeSwap defied the trend, as the exchange rose to $79.8 billion, compared to 58.7 billion, which indicates mixed momentum in DEX activity.
In September, spot Bitcoin exchange-traded funds (ETFs) recorded net inflows of 3.53 billion, compared to the net outflows of 751.1 million in August, even though the volume of exchanges was subdued.
This implies that there is increasing interest in spot Bitcoin vehicles by investors in spite of the general slowdown in trading volumes.
The progressive weakening of spot volumes is observed in the context of a balancing game in the crypto market: the growth of the price of assets and individualistic trading.
The dynamics emphasize the changing environment of crypto liquidity on centralized and decentralized platforms.
The post Crypto News: Crypto Exchange Spot Volumes Slide to $1.67T, Lowest Since June appeared first on Live .
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Author: NixCoin
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