Dip in trading at Binance and other major crypto exchanges confounds experts
Experts are having trouble explaining why trading is slumping at the same time that Bitcoin prices rise. Are geopolitical tensions to blame.
Spot-market trading volume at Binance sagged 23% in September – to $344 billion – its lowest monthly mark since November 2023, CCData reported last week.
And Binance, the world’s largest cryptocurrency exchange, wasn’t alone.
Other mainstream exchanges, including OKX, HTX, Coinbase, Kraken, and Bybit reported month-on-month declines of 25%, 24%, 30%, 25% and 20%, respectively, Jacob Joseph, senior research analyst at CCData, told Cointelegraph on Oct. 8.
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Author: Andrew Singer
