Crypto Trading Dropped 43% in Q2 Despite Climbing Bitcoin, Ethereum Prices

Crypto Trading Dropped 43% in Q2 Despite Climbing Bitcoin, Ethereum Prices
Posted On July 18, 2023 Spot trading volumes on centralized crypto exchanges plummeted by 43% in the second quarter of 2022, new data from CoinGecko suggests. And Binance—which has been slashing jobs as it retreats from key markets and faces civil charges in the U.S.—was especially hard hit. CoinGecko’s report covering Q2 indicates that the world’s biggest exchange has seen its dominance slide from 62% to 51% in just three months—a sign that Changpeng Zhao’s constant cries of “FUD” aren’t washing with crypto traders. The contraction in trading volumes, which was also seen on decentralized exchanges, comes despite a 7%...
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