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Crypto Spring? Spot Volumes Up by 49% in April at Crypto-to-Crypto Exchanges - Printable Version

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Crypto Spring? Spot Volumes Up by 49% in April at Crypto-to-Crypto Exchanges - crytocure - 20-05-2019

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This article highlights several interesting trends examined by CryptoCompare's "April 2019 Exchange Review" (which was released earlier today).

Spot Exchange Trading Volumes

Monthly trading volume from crypto-to-crypto exchanges (i.e. that offer only crypto pairs) went up by 49% (from $267 billion to $396 billion) in April (compared to March), while that from fiat-to-crypto exchanges (i.e. those that offer fiat pairs) increased by 25% (from $58 billion to $72 billion):

[Image: cc_er_may_2019_-_fig_4.png__461x409_q85_...pscale.png]

The top 15 crypto-to-crypto exchanges all had increases in their monthly trading volumes in April with an average increase of 57%. FCoin, in contrast to previous months, was the largest exchange by monthly volume at $37.1 billion USD (up 300%), followed by OKEx at $35.1 billion (up 12.4%), and ZB at 35.1 $32.4 billion (up 18.8%):

[Image: cc_er_may_2019_-_fig_10.png__511x382_q85...pscale.png]

Bithumb was the top exchange by total volume in April at $17 billion, despite experiencing a 47% drop in volume. This was followed by Upbit at $8.7 billion USD (up 20%) and Bitfinex at $6.7 billion USD (up 114%):

[Image: cc_er_may_2019_-_fig_11.png__527x365_q85...pscale.png]

Bitcoin (BTC) to Fiat Trading Volumes

In April:

USD, JPY, EUR and KRW made up 95% of total trading from Bitcoin into fiat (i.e. only 5% went from Bitcoin to other fiat currencies), with the a 60% share for USD (up from 46% in March) and a 10% share for JPY (down from 24% in March):

[Image: cc_er_may_2019_-_fig_6.png__449x251_q85_...pscale.png]

BTC to USD volume increased by 74.7% to 1.6 million BTC (from 0.92 million BTC in March); BTC to JPY volume decreased by 40% to 0.29 million BTC (from 0.48 million BTC in March); and BTC to KRW volume increased by 17.6% to 0.25 million (from 0.21 million BTC in March):

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Bitcoin to Stablecoin Volumes

In April:

BTC trading into Tether (USDT) represented 78.9% of the total monthly Bitcoin trading into fiat or stablecoins, totalling 10.3 million BTC (an increase of 15% compared to March); BTC-to-USDT's share went down from 81.7% in March to 78.9% in April:

[Image: cc_er_may_2019_-_fig_7.png__388x239_q85_...pscale.png]

[Image: cc_er_may_2019_-_fig_8.png__539x272_q85_...pscale.png]



by Siamak Masnavi