Crypto-Spot trading volume reached $ 2.8 trillion in the first quarter of 2023: Coingecko

Crypto-Spot trading volume reached $ 2.8 trillion in the first quarter of 2023: Coingecko
Bitcoin has shown an immense resistance this year. Even if the entire rally was not run smoothly per se, it is important because it took place against the background of the banking scandal. This essentially represented a shift in investor's mood, which Bitcoin regarded as security against banks.
- According to the latest report on the Coingecko market tracking platform, the spot trade volume on the top 10 crypto exchanges in the first quarter 2023 was $ 2.8 trillion and increased by more than 18 %compared to the fourth quarter of 2022.
- The monthly trading volume has also increased since the lows of $ 0.5 trillion in December 2022, but still has to reach an average of $ 1 trillion, a number that was last recorded in the first half of 2022.
- The activity on the spot market is usually equated with long -term investors, and an increase signals a new upward movement of the market.
- supervisory authorities around the world reinforced their approach to centralized crypto exchanges (CEXS). The market participants stormed into the decentralized stock exchanges (Dexs) and ensured considerable growth.
- as such experienced Dexs that their popularity exceeded the CEXs about twice. The report estimates that Dexs grown by 33.4 % in the first quarter of 2023, compared to 16.9 % at CEXS.
- The ratio of CEX to Dex trade volume remained over 90 %in the same period.
- Binance dominated the Spot CEX with a market share of 62 % in March 2023, although the platform led by CZ was faced with regulatory hurdles, especially from the USA.
- The Cryptorie Coinbase based in the USA, on the other hand, still has to capitalize on the decline of FTX, since its volume decreased by 0.5 % in the first quarter of 2023.
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