Large Volume Increases Seen in Central Crypto Exchanges

From the final quarter of 2023 to the first quarter of 2024, Bybit and other major central crypto exchanges (CEX) saw significant increases in trading volumes. According to the Bybit Institutional Report for 2024, many CEXs tripled their monthly trading volumes during this period. Particularly, OKX, Binance, and Bybit stood out among the most notable exchanges. Details of the Growth in Crypto Exchanges According to the Bybit report, OKX recorded a significant growth by increasing its 30-day volumes by 278%. Binance and Bybit realized volume increases of 239% and 264% respectively. This growth may have been triggered by the support of investment funds in the US for major cryptocurrencies such as Bitcoin and Ethereum. The growth of CEXs during this period was significantly influenced by the price increases of Bitcoin and Ethereum. According to a representative of Bybit, the volume increases during this period were analyzed using 30-day averages for […]

Large Volume Increases Seen in Central Crypto Exchanges

From the final quarter of 2023 to the first quarter of 2024, Bybit and other major central crypto exchanges (CEX) saw significant increases in trading volumes. According to the Bybit Institutional Report for 2024, many CEXs tripled their monthly trading volumes during this period. Particularly, OKX, Binance, and Bybit stood out among the most notable exchanges.

Details of the Growth in Crypto Exchanges

According to the Bybit report, OKX recorded a significant growth by increasing its 30-day volumes by 278%. Binance and Bybit realized volume increases of 239% and 264% respectively. This growth may have been triggered by the support of investment funds in the US for major cryptocurrencies such as Bitcoin and Ethereum.

The growth of CEXs during this period was significantly influenced by the price increases of Bitcoin and Ethereum. According to a representative of Bybit, the volume increases during this period were analyzed using 30-day averages for a more accurate analysis.

The report indicates significant growth in the futures market as well. Binance continues to lead in market share by constituting 58% of the overall spot trading volume. Meanwhile, Bybit and OKX showed growth with 9.6% and 9% market shares, respectively.

Useful Information for the Reader

The trading volume of major CEXs can vary based on general market conditions and should be taken into consideration in investment decisions.
The performances of major cryptocurrencies like Bitcoin and Ethereum can directly affect the volumes of CEXs.
The dynamics of the futures market can influence the market shares of exchanges like Binance, OKX, and Bybit, making it important to monitor developments in this area.

In conclusion, crypto exchanges, especially in the specified period, have experienced significant growth, particularly in terms of volume. This growth provides important data for investors and market observers.

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