Crypto Volume on Binance, Coinbase Dips 50%-70%
Irrespective of the market conditions, market participants have been accumulating crypto assets. However, during the second quarter, the trade volume has not been appealing. As illustrated below, the aggregate number stood below $2 billion, the lowest since 2020. A recent Kaiko research report pointed out that Binance registered the “strongest drop.” The volume on the largest exchange dropped by nearly 70%. This was likely a consequence of the exchange re-introducing fees for its “most liquid” BTC pairs. Nevertheless, the state of affairs on other exchanges was also similar. The volume on Coinbase, Kraken, OKX, and Huobi also dropped by over 50% in Q2. Source: Kaiko Well, Coinbase has been consistently making it to the headlines of late. Over the past few days, several Bitcoin ETF applications have been re-filed, with Coinbase being added as the surveillance partner. The shares of the company are up, by over 13% over the past week. However, Coinbase has ...