Trading Volume on Largest Exchanges Rises 200%

According to Tokeninsights, Bybit, Binance, and OKX were the top three exchanges in terms of trading volume in the first quarter of 2024.

The ten largest cryptocurrency exchanges saw a trading volume of over $6 trillion in the first quarter of 2024. This indicates a 72% increase in turnover compared to the previous quarter.

Bybit’s analysts also noted a rise in crypto trading activity among investors. They discovered that in the past month, Bybit’s trading volume increased by 264%, while Binance and OKX saw increases of 239% and 279%, respectively.

On average, transactions with digital currencies on these platforms recorded a 255% surge over the 30-day period.

Coinbase also experienced a notable increase of 193% in trading activity. Bybit attributes this spike in investor participation to the introduction of exchange-traded crypto ETFs in the US market that focus on Bitcoin.