CCData's quarterly Outlook Report provides readers with a comprehensive, data-driven analysis of the digital asset landscape. This report reflects on the key events of the previous quarter while casting an eye towards the future, pinpointing emerging trends and potential developments in the coming months and beyond.
April 14, 2023
Report Summary
Key findings:
During the first quarter of 2023, the turbulence and loss of confidence in the crypto market have impacted trading volumes, leading to a slowdown in the growth of centralized exchanges.
Monthly volumes averaged $932 billion, a 16.8% decline from the 2022 monthly average of $1.12 trillion. Despite the overall decline, when comparing Q1 2023 to Q4 2022, centralised exchange volumes increased by 23.2%, from $7.57bn to $9.33bn.
When comparing the liquidity of ETH on Uniswap V3, the largest decentralized exchange, to Binance and Coinbase, we found that Uniswap V3's liquidity has grown substantially, registering an impressive 208% increase. In contrast, Coinbase and Binance have recorded declines of -6.35% and -13.4%, respectively.
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