Centralized Crypto Exchanges Saw Major Monthly Volume Uptick in April, Report Shows

Published on by Cointele | Published on

Centralized cryptocurrency exchanges saw a major uptick in traded volume this April, the new April 2019 Exchange Review from crypto data provider Cryptocompare has revealed on May 20.

Among top fiat-to-crypto platforms, monthly volumes overall increased by a solid 85%. While itself experiencing a 47% drop in volumes, major South Korean crypto exchange Bithumb was the top exchange by total volume in April overall, reporting $17 billion.

While Coinbase, Kraken, Bitstamp and Coinsbit all similarly experienced an increase in volumes in April, crypto exchange Liquid reported a decrease, according to CryptoCompare.

Among crypto-crypto platforms, the average volume increase was reportedly 57%. China-based FCoin - unlike in previous months - was the largest exchange by monthly volume at $37.1 billion, followed by OKEx and ZB at $35.1 billion and $32.4 billion respectively.

In terms of decentralized exchanges in April, Ethermium remained the largest DEX in the market with $194 million, despite seeing a 42% volume drop.

Decentralized platforms accounted for just 0.068% of global spot exchange volumes, trading a monthly total of $317 million USD in April, CryptoCompare notes.

Another trend identified in the report was a 124% increase in the volume of exchanges using a transaction fee mining model, having traded $115 billion in April.

Exchanges charging taker fees still traded $352 billion, remaining the dominant fee type at 75.1% of total volume.

As reported this January, the 2018 Cryptocurrency Exchange Annual Report from crypto and blockchain research organization TokenInsight found that DEXes account for 19% of the global exchange ecosystem, with trading volumes on DEXes amounting to less than 1% of those on centralized exchanges.

The decision came on the heels of recently sparked controversies over allegedly fake or artificially volume reporting among unregulated exchanges in the industry.

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