Bitcoin (BTC) and Altcoin Spot Trading Volumes have decreased while the prices of cryptography have entered correction mode in the past two months, the crypto exchange of emerging as the favorite avenue for merchants, according to a cryptocurrency report.
Bitcoin cash flow volume on crypto scholarships increased from $ 44 billion on 3 to 10 billion dollars at the end of the first quarter, a drop of almost 77%, according to the analysis company. Meanwhile, the volume of trading at total Altcoin point on crypto scholarships increased from $ 122 billion on 3 to 23 billion dollars at the end of the first quarter – a drop of more than 80%.
A drop in volume of such magnitude suggests that traders and investors lose interest or confidence, perhaps due to uncertainty or fear. The drop in prices means that the value of Bitcoin and other cryptos drops, which can frighten more people, creating one less and lower prices, added the report.
The loss of the market is the gain of Binance
At the same time, Binance has increased its domination over other Crypto exchanges with its share of total market trading reaching almost 50%. Binance’s share of the trading volume at Bitcoin Daily Total point increased from 33% on 3 to 49% at the end of the first quarter.
This implies that the trading of volumes on other exchanges has decreased much faster than on the Binance, and that the exchange becomes the largest place of liquidity during periods of higher market.
In addition, the Binance share of the total volume of trading at the point of Altcoin rose from 38% on 3 to 44% by the end of the first quarter.
Some altcoins still have relatively high trading volumes on binance, despite the overall slowdown in trading volumes. For example, large altcoins like BNB, Ton and EOS are still being exchange with a relatively high activity, at a time when the global volumes of cryptography have decreased.
Meanwhile, Binance Bitcoin entries accelerated last week, wrote independent cryptotic analyst Martuun.
“The Bitcoin reserve on Binance went from 568,768 BTC (March 28) to 590,874 BTC (April 9), an increase of 22,106 BTC,” he said in an extract. “This shows a strong acceleration in BTC entries to the Binance. It is likely that investors actively move funds to Binance, due to macro uncertainty and before the announcement of the IPC to come.”
