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 5, 2024

In May, the combined spot and derivatives trading volume on centralised exchanges fell 20.1% to $5.27tn, as major crypto assets including Bitcoin and Ethereum remained largely rangebound. Toward the end of the month, many assets experienced a sudden spike in volatility following the SEC’s surprise approval of spot Ethereum ETF in the US.

Key Takeaways

  • Spot trading volumes on centralised exchanges fell 21.6% to $1.57tn in May, recording the second consecutive monthly decline in trading activity.
  • In May, despite a 7.42% decrease in overall derivatives trading volume to $115bn, CME’s market share among derivatives markets grew by 0.40% to 3.11%, its highest level since 2021.
  • Trading volume on Bybit fell 12.7% to $116bn, recording the second consecutive decline in monthly trading volumes on the exchange. Despite this, Bybit is currently the second largest spot exchange in the industry, with a new all-time high market share of 7.36%.
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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 5, 2024

Report Summary

In May, the combined spot and derivatives trading volume on centralised exchanges fell 20.1% to $5.27tn, as major crypto assets including Bitcoin and Ethereum remained largely rangebound. Toward the end of the month, many assets experienced a sudden spike in volatility following the SEC’s surprise approval of spot Ethereum ETF in the US.

Key Takeaways

  • Spot trading volumes on centralised exchanges fell 21.6% to $1.57tn in May, recording the second consecutive monthly decline in trading activity.
  • In May, despite a 7.42% decrease in overall derivatives trading volume to $115bn, CME’s market share among derivatives markets grew by 0.40% to 3.11%, its highest level since 2021.
  • Trading volume on Bybit fell 12.7% to $116bn, recording the second consecutive decline in monthly trading volumes on the exchange. Despite this, Bybit is currently the second largest spot exchange in the industry, with a new all-time high market share of 7.36%.
Download report

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