CEX Data Report for April: Spot trading volume decreased by 38%

Data compiled by the Wublockchain team shows:

In April, the spot trading volume of major exchanges decreased by 37.9% month-on-month. The top three changes were Gate +13.7%, Bitget -11.1%, and HTX-14.5%. The bottom three were Kucoin-70.8%, Upbit-57.5%, and Bitfinex-47.7%.

In April, the derivatives trading volume of major exchanges decreased by 1.4% month-on-month. Binance introduced a limited-time fee discount for USDC perpetual contracts (April 3 — July 3), leading to a surge of 72.2% in perpetual contract trading volume. Excluding this, the total trading volume decreased by 26.6% month-on-month. The top three changes were HTX-13.4%, Crypto.com-15.6%, and Bitget-16.1%. The bottom three were Mexc-50.7%, Kucoin-50.5%, and Deribit-38.1%.

In April, website traffic of major exchanges decreased by 22% month-on-month. The top three changes were Bitget +11%, Gate+9%, and Bitmart-3%. The bottom three were Kucoin-39%, Coinbase-31%, and Upbit-31%.

Note: The following data may be suspected of significant volume brushing/bot activity. Spot and derivatives data are from Coingecko; traffic data is from Similarweb.