Binance Gains Ground as Crypto Trading Volumes Plunge
A sharp downturn in crypto trading activity has gripped markets over the past two months — but Binance is bucking the trend, expanding its market share as other platforms lose steam.
According to a report from CryptoQuant, bitcoin spot trading volume across all exchanges dropped from $44 billion on February 3 to just $10 billion by the end of Q1 — a staggering 77% fall. Altcoin spot volumes suffered an even steeper decline, plunging over 80% from $122 billion to $23 billion.
The slowdown reflects a broader sense of caution among investors as market volatility, geopolitical tension, and macroeconomic uncertainty take their toll. Analysts suggest many traders are waiting on the sidelines for clearer signals or more favorable conditions.
Despite this, Binance saw a surge in market share. Its portion of daily bitcoin spot trading climbed from 33% to 49%, while altcoin trading share rose from 38% to 44% over the same period — suggesting traders are consolidating activity on the most liquid venue.
Even as total volumes shrink, Binance continues to see steady interest in tokens like BNB, TON, and EOS. Meanwhile, inflows of bitcoin to the exchange are accelerating, with reserves growing by over 22,000 BTC between March 28 and April 9.
“The increase in BTC reserves indicates investors may be positioning on Binance ahead of key economic data and amid ongoing macro uncertainty,” said Martuun, an independent analyst at CryptoQuant.
While the broader crypto landscape sees declining engagement, Binance’s growth underscores its position as a dominant force — especially in turbulent times.
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