Cryptocurrency exchanges see massive increase in monthly trading volume, bull market solidifying

CryptoCompare, a leading provider of cryptocurrency data and indices, found that the top 15 exchanges all experienced an increase in monthly volume.

Crypto exchanges see a substantial increase in monthly volumes.

The company shared its April review with CryptoSlate, where it found that the top 15 cryptocurrency exchanges all saw another increase in monthly volume in April with an average increase of 57 percent.

What came as the biggest surprise was the fact that at $37.1 billion, FCoin saw a 300 percent increase in monthly volume since March.

The Hong Kong-based exchange surpassed both Binance and ZB, which saw a 12.4 and 18.8 percent increase in monthly trading volume since March.

Binance, one of the most popular exchanges, ranked 4th with a reported monthly volume of $27 billion.

The exchange saw a 263 percent increase in average trading volume in April, increasing from $70.5 million in March to $256 million in April.

April saw another significant increase in volume from crypto to crypto exchanges, with the trading volume on exchanges that only offer crypto pairs increasing 49 percent.

CryptoCompare found that crypto to crypto exchange trading volume represented 84.5 percent of total spot volume in April.

Bitcoin to USD volumes also increased by 75 percent, from 0.92 million BTC to 1.60 million BTC. An increase in trading volumes across the crypto exchange industry is in line with the general surge in all major cryptocurrency prices.