CCData: April transaction volume was $6.58 trillion, the first decline in seven months
Golden Finance reported that cryptocurrency trading volume cooled in April, falling for the first time in seven months, as escalating geopolitical tensions and slowing inflows of funds from U.S.-listed spot ETFs put pressure on the digital asset market. According to a report by CCData, a London-based digital asset data provider, cumulative trading volume in the spot and derivatives markets fell 43.8% to $6.58 trillion, a sharp drop from the all-time high of $9.12 trillion set in March.
Derivatives once again lost favor with investors as activity in futures and options markets fell 47.6% to $4.57 trillion. Meanwhile, spot market volume fell 32.6% to $2.01 trillion. CCData said in a report that the decline was due to unexpected macroeconomic data, escalating geopolitical crises in the Middle East, and negative net flows of U.S. spot Bitcoin ETFs, which caused major crypto assets to give up their gains in March.
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