- The overall crypto exchange volume surpassed $2 trillion in May.
- The $2T volume marks the first time in history that the crypto exchange recorded.
According to The Block, the entire crypto exchange volume has exceeded about $2 trillion in May. Also, citing from The Block’s legitimate volume index, the crypto exchanges are still on their verge of setting a new record.
Of note, it is worth mentioning that the $2 trillion volume marks the first time in history that the crypto exchanges have ever recorded.
Also, The Block further stressed that May appeared as a promising month for the overall crypto exchange’s and their environs. Aside from the crypto exchanges $2T volume acquisition, Binance still sits as the first crypto exchange.
As per The Block, Binance also recorded over $1.5 trillion of buying and selling volume in May. Specifically, Binance main exchange does not provide USD trading. However, Coinbase remains the second-largest crypto exchange, according to The Block’s Data Dashboard.
Based on Coinbase’s fiat-to-crypto activities, it recorded about $198 billion worth of crypto trading volume.
Briefly, The Block legitimate volume index precisely reports data from the best and the largest crypto exchanges trading data. Despite the crypto market crash last month due to Tesla CEO Elon Musk and China’s crypto price depression, the entire crypto market cap has recovered. The crypto market cap is $1,636,569,744,277 at the time of writing, according to CoinMarketCap.