Reasons for the fall in trading volume
One of the key reasons for the fall, experts call the return of the crypto exchange Binance of commission fees for the most liquid pairs with digital gold. As a result, the trade turnover on the site decreased by 70%. The crypto exchanges Coinbase, Huobi, OKX and other large platforms also had their indicators fall on average. The drop rate was about 50%.
Despite the fact that there was a clear decrease in activity, the opposite situation occurred at South Korean sites. Kaiko experts calculated that at the end of June, the total turnover per day exceeded $ 4 billion. Along with this, 90% of the activity occurred when trading altcoins. First of all, this happened in Waves and Bitcoin Cash.
The trading volume in euro cryptocurrencies corresponded to global trends. Binance's index fell the most. It has lost market share from 40%, which was at the beginning of the year, to 16% last month.
At the same time, the platform announced that it was ceasing to cooperate with Paysafe. If there is no alternative, it will be impossible to deposit and withdraw euros from the beginning of autumn.