- Spot trading volumes have increased to $1.58 trillion on some crypto exchanges.
- These crypto exchanges include Coinbase, Gemini, Bitfinex, and more.
- Also, the on-chain stablecoin volume increased by over 30%.
The volume of spot trading activities through some renowned crypto exchanges has recorded a new all-time high of $1.58 trillion. Of note, the record $1.58 trillion spot trading volume occurred just in April alone.
4/8 Legitimate CEX spot volume increased by 49% to a new all-time high of $1.58trn in April (Binance running at 74.3% market share): pic.twitter.com/zn2tFTU229
— Lars (@lars0x) May 1, 2021
To name a few, Binance, Coinbase, Kraken, Gemini, Bitfinex, bitFlyer, and more others are the exchanges that recorded the $1.58 Spot trading volume.
Also, spot trading even recorded an active volume of about $1.06 trillion in March. Moreover, the current $1.58 trillion trading volume represents an over 49% drastic increase from $1.06 trillion.
Aside from the rise in spot trading volume, the on-chain volume of stablecoins also increased 31.2% to an all-time high of $504 billion. However, Bitcoin miner revenue reduced by 2.5% to 1.7 billion. However, Ethereum miner revenue increased by 19.4% to $1.65 billion in the same month.
Of note, Ethereum price recently broke the $3,000 price mark. This bullish surge represents the first time that an altcoin has breached the $3K price barrier.