Yahoo Monthly report: crypto to crypto trading volumes surged by 70% in March 2019; Malta dominates
Cryptocurrency market data provider CryptoCompare recently released its March 2019 Exchange Review, surveying trading data across major crypto exchanges. The report highlights an increase of 47.5% in total crypto exchange spot volume and a spike of 70% in crypto to crypto exchange trading volume, illustrating the recent resurgence in the once subdued crypto markets. Meanwhile, trading volume from exchanges that offer fiat pairs was down 8% to 58 million USD since February. Other notable findings include:
- Malta dominates: Malta-registered exchanges, which include the likes of giants like
Binance, represented the majority of total trading volume, increasing by 56% since February.
- CME hot streak: Bitcoin derivative product volumes were still dominated by CME,
whose futuresproduct volume decreased by 29%. Overall, averagetrading volume ofregulated bitcoin futures products plumped in March.
- Crypto-to-crypto is king: Top crypto to crypto exchanges witnessed an average surge of 66%
in monthlytrading volume. The top three exchanges were OKEx, ZB, and Binance, with a monthly volume of 31.2 billion (up 85%), 27.3 billion (up 51%), and 24.7 billion (up 30%) USD respectively. Top fiat to crypto exchanges, however, saw a general decrease in their monthly trading volume.
- Tether tops fiat: The monthly trading volume of BTC to
USDTsurged by 43%, totaling 8.9 million BTC in March. Meanwhile, trading volumes of BTC to other currenciesexperienced a general decline, with BTC to USD down 26.2% and BTC to Japanese Yen down 47%. One of the few major outliers is BTC to South Korean Won, which increased by 41% in total monthly volume since February.
- Read the original report here: https://finance.yahoo.com/news/monthly-report-crypto-crypto-trading-173947444.html