Trading On Spot Crypto Exchanges Rose By 18% in Q1 2023

CoinGecko has reported that the trading volume of digital currencies on spot exchanges rose by 18% in the first quarter of 2023, with the average monthly transactions ranging from $500 billion to $1 trillion.

This increase was largely attributed to the 70% growth of bitcoin in January-March.

Additionally, decentralized exchanges (DEX) saw a 33.4% increase in transactions over the same period.

Binance remained the leading spot exchange, handling over 60% of digital currency transactions in March alone.

Coinbase, however, experienced a 0.5% decrease in trading volume in the first quarter of 2023.