Exchange Review

CCData's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.

  • June 7, 2023

In May, the combined spot and derivatives trading volume on centralised exchanges fell 15.7% to $2.41tn, recording the second consecutive decline in monthly trading volume, as the price of crypto assets stayed largely rangebound, and volatility fell to levels not seen since the start of the year.

Key Takeaways

  • In May, centralised exchanges experienced a  21.8% drop in spot trading volume to $495bn, marking the lowest monthly trading volume recorded by centralised exchanges since March 2019.
  • Derivatives trading volume declined by 15.7% to $1.95tn, the lowest since December 2022.
  • Binance’s spot market share fell for the third consecutive month, to 43.0% in May amidst the halting of zero-fee trading for USDT pairs, general weakness in the market and increased scrutiny from regulators.
  • Trading volume on decentralised exchanges fell 2.58% to $72.5bn in May, however, its market share rose for the fourth consecutive month to an all-time high of 12.8%.
Download report
Thank you! Click the button to download the report.
Download
Oops! Something went wrong while submitting the form.

Exchange Review

CCData's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.

  • June 7, 2023

Report Summary

In May, the combined spot and derivatives trading volume on centralised exchanges fell 15.7% to $2.41tn, recording the second consecutive decline in monthly trading volume, as the price of crypto assets stayed largely rangebound, and volatility fell to levels not seen since the start of the year.

Key Takeaways

  • In May, centralised exchanges experienced a  21.8% drop in spot trading volume to $495bn, marking the lowest monthly trading volume recorded by centralised exchanges since March 2019.
  • Derivatives trading volume declined by 15.7% to $1.95tn, the lowest since December 2022.
  • Binance’s spot market share fell for the third consecutive month, to 43.0% in May amidst the halting of zero-fee trading for USDT pairs, general weakness in the market and increased scrutiny from regulators.
  • Trading volume on decentralised exchanges fell 2.58% to $72.5bn in May, however, its market share rose for the fourth consecutive month to an all-time high of 12.8%.
Download report

More Featured Reports

Exchange Review
CCData's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
  • April 4, 2024
  • Exchange Review
Stablecoins & CBDCs Report
The latest Stablecoin insights from CCData's award-winning research team, featuring trading volumes, peg deviations and more.
  • March 20, 2024
  • Stablecoins Report
Exchange Review
CCData's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
  • March 8, 2024
  • Exchange Review
Digital Asset Management Review
CCData’s Digital Asset Management Review provides an overview of the global digital asset investment product landscape. Our review focuses on key developments across various product types and tracks the adoption of these products by analysing assets under management, trading volumes, price performance and more.
  • March 4, 2024
  • DAMR

Stay Up To Date

Get our latest research, reports and event news delivered straight to your inbox.