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Centralized crypto exchanges show major uptrend in April

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Centralized crypto exchanges show major uptrend in April
Source: Pixabay

Crypto data provider, Cryptocompare, revealed that centralized cryptocurrency exchanges saw a major uptrend in traded volume this April. Cryptocompare disclosed this data through the new April 2019 Exchange Review, on May 20.

Top fiat-to-crypto platforms witnessed a solid 85% increase in the overall monthly volumes while experiencing a 47% drop in volumes. Bithumb, a major South Korean crypto exchange was on the top with a total volume of $17 billion.

Upbit and Bitfinex were right behind Bithumb, at 8.7 billion USD [up 20%] and 6.7 billion USD [up 114%] respectively.  According to the report, popular cryptocurrency exchanges, Coinbase, Kraken, Coinsbit, and Bitstamp experienced a similar increase in volumes. Decentralized exchanges like Ethereum retained its position as the largest DEX in the market with $194 million, in spite of a 42% drop. 

Crypto-crypto platforms reported a 57% volume increase. China’s FCoin, was the largest exchange by monthly volume at $37.1 billion [up 300%], followed by OKEx and ZB at $35.1 billion [up 12.4%] and $32.4 billion [up 18.8%], respectively. Decentralized platforms accounted for only 0.068% of global spot exchange volumes, trading a monthly total of $317 million USD, in April.

The report indicated another trend citing a 124% increase in the volume of exchanges using a transaction fee mining model, having traded $115 billion in April. Nevertheless, exchanges charging taker fees still traded $352 billion(up 30%), remaining the dominant fee type at 75.1% of total volume.

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Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.