According to CryptoQuant's report, the spot trading volume of Bitcoin has decreased by 77% from a high of $44 billion on February 3 to $10 billion at the end of the first quarter. At the same time, the spot trading volume of altcoins decreased from $122 billion to $23 billion, a decrease of over 80%. The significant decrease in trading volume indicates that investors have reduced their participation due to market uncertainty or fear.
Despite the overall decline in trading volume, Binance's market share has continued to grow, with its daily spot trading volume of Bitcoin increasing from 33% on February 3 to 49% at the end of the first quarter, and its total cryptocurrency market trading share approaching 50%. In addition, Binance's daily spot trading volume of altcoins has increased from 38% to 44%. The trading activity of major altcoins such as BNB, TON, and EOS on Binance remains at a high level.
Previously, it was reported that Binance BTC reserves have surged by over 22000 units in the past 12 days.