Report: Centralized exchanges saw huge growth in monthly volume in April

20 May, 2019
by Richard Allen
Report: Centralized exchanges saw huge growth in monthly volume in April

According to an exchange review from crypto data provider, CryptoCompare centralized exchanges saw a major increase in trading volume for the month of April.

According to the results, monthly volumes increased overall by 85%, with South Korean exchange Bithumb taking the top spit $17 billion, despite a 47% drop in volumes. Upbit came in second at $8.7 billion, an increase of 20%. Bitfinex was third with $6.7 billion, representing an increase of 114%.

Coinbase, Kraken, Bitstamp and Coinsbit all experienced surges in trading volumes for April, while Liquid experienced a decrease, according to the report.

For crypto-to-crypto platforms, monthly volumes increased by 57%, with China-based FCoin topping the lost at $37.1 billion, an increase of 300%. OKEx and ZB followed with $35 billion (up 12.4%) and $32.4 billion (up 18.8%), respectively.

For decentralized exchanges, Ethermium remained the largest DEX, attracting $194 million, down by 42%. WavesDEX was next at $32.5 million, an increase of (3.5%) followed by IDEX at $31.4 million, up by 15.9%.

According to CryptoCompare, decentralized exchanges accounted for just 0.1% of the global spot market.

The report also notes a sharp increase in exchanges using a transaction fee mining model, with exchange FCoin leading the surge with a 300% increase to $37.1 billion, followed by BitMEX at $1.1 billion.

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