Trading volumes on leading crypto exchanges more than halved in a week

Trading volumes on leading crypto exchanges more than halved in a week

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On Huobi trading activity decreased by 82%, on Bitfinex - by 75%, while the volume of transactions on Binance decreased by 60% Trading volumes on leading crypto exchanges more than halved over the week, according to analytics platform Kaiko. The decline in volumes followed one of the busiest weeks during the FTX crash, according to the report.

Trading volumes on leading crypto exchanges more than halved in a week

Trading volumes on the Huobi and Bitfinex exchanges fell 82% and 75%, respectively. The figure was down 56% on the Gemini exchange after it restricted payments to its customers.

Trading volumes on Binance dropped 60%. Also, trading volumes on BitMEX, Binance US, Coinbase, Kraken and KuCoin platforms fell by more than half.

In addition to the reduction in trading on centralized platforms, Kaiko analysts noted a decrease in trading activity on the DEX platform Uniswap V3. The trading volume on it at the time of the FTX crash exceeded $4 billion, since then it has fallen to less than $1 billion.

At the end of last week, it became known that, amid the outflow of funds from the centralized exchanges, which occurred because of the collapse of FTX, DeFi platforms have increased their revenues. At the same time recorded an increase in activity on decentralized platforms for trading futures and an increase in revenue DeFi protocols.

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