April CEX volumes have declined by almost half what they were in March as crypto markets cool from 2023 highs.
that Binance’s Bitcoin balance increased by over 50,000 BTC, roughly $1.5 billion, in a month. The move preceded the sell-off as BTC hit heavy resistance just over the $30,000 level.
U.S.-based crypto exchange Coinbase has seen its app downloads also in decline in recent months as trading volumes dwindle in the sideways market,Tom Grant, the VP of research at Apptopia, a research firm that tracks app usage metrics, said the shrinking app usage paints a bearish picture for the company.The CEX volume decline comes as digital asset markets began to retreat from their 2023 highs in mid-April. On April 16 total market capitalization hit an eleven-month high of $1.34 trillion.
Since the beginning of the year, crypto markets have gained 50% but they have remained largely range bound for the past six weeks or so.is likely to continue as markets have been somewhat overheated for the first quarter of the year.
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