Research Summary
The report presents a comprehensive analysis of the spot and futures trading volume on major exchanges in September. It highlights a significant decrease in trading volume, marking the lowest since October 2020. The report also provides a detailed breakdown of the rate of change for various exchanges and discusses the decrease in website traffic to these exchanges during the same period.
Key Takeaways
Spot Trading Volume Decline
- Overall Decrease: The report indicates a 19.3% month-on-month decrease in spot trading volume on major exchanges in September, the lowest since October 2020.
- Top and Bottom Performers: The exchanges with the highest rate of change were Crypto.com (31%), Upbit (16%), and Mexc (4%). The lowest performers were KuCoin (-32%), Binance (-30%), and Huobi (-25%).
Derivatives Trading Volume Decline
- Overall Decrease: The derivatives trading volume on major exchanges also decreased by 19.6% month-on-month in September, hitting the lowest since October 2020.
- Top and Bottom Performers: The exchanges with the highest rate of change were Crypto.com (45%), Bitmart (22%), and Huobi (3%). The lowest performers were KuCoin (-27%), Bitget (-25%), and Binance (-20%).
Website Traffic Decline
- Overall Decrease: Website traffic to major exchanges in September decreased by 17.4% month-on-month.
- Top and Bottom Performers: The exchanges with the highest rate of change were Bitmart (23%), OKX (1%), and Mexc (-4%). The lowest performers were Huobi (-63%), Deribit (-29%), and Gate (-19%).
Actionable Insights
- Investigate the Potential: The significant decrease in trading volume and website traffic suggests a potential shift in market dynamics. Stakeholders should investigate the underlying causes and potential implications for their strategies.
- Monitor Exchange Performance: The varying rates of change among different exchanges highlight the importance of monitoring individual exchange performance. This can provide insights into market trends and inform decision-making.
- Consider Market Volatility: The report’s findings underscore the volatility of the cryptocurrency market. Stakeholders should factor this into their risk management strategies.
