Trading Volume on Exchanges Plunges in July, Coinpaprika.com Shows Exchange fire people while some hireing also
Trading Volume on Exchanges Plunges in July, Coinpaprika.com
Shows
· New report showed that exchanges trading volume dropped by roughly 2% in July.
· Exchanges derivative trading volume dropped by 5% too.
· The crypto industry just recorded one of its most bearish seasons too.
The decline in trading volume came mostly from LBank which saw an over 50% decline, Huobi by 31.3%, and Gate by 31.2%. Others like KuCoin Crypto.com, and Bitfinex saw their volume drop by 25% respectively too.
On the other hand, some exchanges saw a massive increase in their spot trading volume in July. The likes of Binance US saw a 76.7% increase in their trading volume, OKX by 30%, and Phemex by 227.4%. Other exchanges whose numbers rose include Bitmart with 18% and Binance with 9.3%.
Uniswap saw its own trading volume decline also.
Meanwhile, CoinShares also reported
that daily trading volume for the last week of July was $1.3 billion, which is
far below the average of $2.4 billion for the year.
Derivatives Trading Drop by 5%
Additionally, derivatives trading volume across exchanges also fell by 5.2% in July. Exchanges that recorded the most decreases were Deribit with a 28.6% decline, Crypto.com saw a 25% drop, and FTX with an 11.7% decline. Others like ByBit, BitMEX, and Binance saw around a 5% decline respectively.
However, others such as Okex and Huobi saw slight increases of 5.5% and 1.9%.
Exchanges Web Traffic Decline
The decline in trading activity is further reflected in the 10% monthly decline in exchange website traffic last month.
The web traffic declines mostly affected FTX with 33.2%, Huobi dropped by 23.3%, and OKX with 21.7%. Others like Bitfinex, UpBit, Gate, Kraken, and Coinbase lost over 15% of their traffic too.
Few exchanges managed to increase their web traffic during the month. The top gainers include MEXC which saw a 27.7% increase, Bitget’s traffic rose 14.3% and Bitmart by 15.4%.
Wu noted that the data might not be completely accurate due to the likelihood of click farming and bots.
| Name | Volume 24h | Volume 7d | Volume 30d | Coins | Markets | |
|---|---|---|---|---|---|---|
| 1 | ||||||
| Binance | $12,935,287,731 | $98,137,083,397 | $433,048,192,950 | |||
| 322 | 1,284 | |||||
| 2 | ||||||
| Coinbase | ||||||
| $1,710,567,460 | $13,239,430,764 | $51,861,682,370 | 115 | 286 | ||
| 3 | ||||||
| HitBTC | ||||||
| $1,682,158,550 | $12,666,527,124 | $58,823,638,229 | 425 | 973 | ||
| 4 | ||||||
| XT | ||||||
| $3,314,474,602 | $21,308,834,511 | $78,567,742,166 | 193 | 209 | ||
| 5 | ||||||
| DigiFinex | ||||||
| $1,429,287,643 | $11,394,348,358 | $49,205,574,115 | 125 | 170 | ||
| 6 | ||||||
| OKX | ||||||
| $1,163,884,355 | $9,091,296,038 | $44,072,559,416 | 168 | 349 | ||
| 7 | ||||||
| FTX (Spot) | ||||||
| $1,631,598,213 | $11,754,386,796 | $50,228,148,920 | 106 | 160 | ||
| 8 | ||||||
| Bkex | ||||||
| $922,558,834 | $6,898,150,970 | $26,556,929,062 | 342 | 363 | ||
| 9 | ||||||
| Bequant | ||||||
| $592,044,394 | $4,851,646,143 | $23,614,344,320 | 21 | 75 | ||
| 10 | ||||||
| WhiteBIT | ||||||
| $758,620,241 | $6,798,945,328 | $25,487,572,709 | 48 | 92 | ||
| 11 | ||||||
| Kraken | ||||||
| $449,199,813 | $3,581,973,888 | $14,895,824,414 | 96 | 375 | ||
| 12 | ||||||
| BitMart | ||||||
| $949,797,755 | $8,702,828,410 | $49,871,131,850 | 271 | 318 | ||
| 13 | ||||||
| Kucoin | ||||||
| $648,825,158 | $5,102,385,530 | $24,543,646,696 | 384 | 728 | ||
| 14 | ||||||
| P2PB2B | ||||||
| $1,039,231,680 | $7,608,945,278 | $44,179,947,490 | 71 | 141 | ||
| 15 | ||||||
| Huobi | ||||||
| $491,287,280 | $4,141,745,719 | $23,918,782,714 | 361 | 698 | ||
| 16 | ||||||
| Bitfinex | ||||||
| $341,639,623 | $1,880,327,321 | $10,066,255,219 | 111 | 227 | ||
| 17 | ||||||
| Binance US | ||||||
| $327,125,377 | $2,556,745,422 | $10,843,212,104 | 53 | 126 | ||
| 18 | ||||||
| Currency.com | ||||||
| $432,428,507 | $4,083,314,070 | $19,094,726,565 | 396 | 444 | ||
| 19 | ||||||
| Gate.io | ||||||
| $595,119,049 | $5,484,107,791 | $24,629,010,785 | 759 | 1,328 | ||
| 20 | ||||||
| Bitrue | ||||||
| $1,126,404,347 | $7,517,357,567 | $35,823,259,043 | 217 | 385 | ||
| 21 | ||||||
| Upbit | ||||||
| $649,274,005 | $3,445,784,296 | $36,444,100,642 | 116 | 200 | ||
| 22 | ||||||
| BTSE | ||||||
| $423,963,526 | $2,341,681,719 | $5,992,531,167 | 8 | 24 | ||
| 23 | ||||||
| Bibox | ||||||
| $610,300,335 | $1,437,423,425 | $4,771,074,824 | 124 | 168 | ||
| 24 | ||||||
| Dsdaq Global | ||||||
| $314,041,798 | $1,293,838,046 | $5,465,832,493 | 7 | 8 | ||
| 25 | ||||||
| PrimeXBT | ||||||
| $191,201,766 | $1,330,994,078 | $6,862,177,337 | 5 | 9 | ||
| 26 | ||||||
| Lbank | ||||||
| $272,184,620 | $1,928,350,346 | $9,982,436,726 | 159 | 166 | ||
| 27 | ||||||
| Crypto.com Exchange | ||||||
| $529,291,635 | $3,689,387,713 | $12,835,323,298 | 28 | 66 | ||
| 28 | ||||||
| BTCEX | ||||||
| $384,124,011 | $4,344,938,034 | $14,778,089,714 | 22 | 21 | ||
| 29 | ||||||
| Bitstamp | ||||||
| $124,472,459 | $955,608,220 | $4,099,872,036 | 34 | 76 | ||
| 30 | ||||||
| Bithumb | ||||||
| $225,957,812 | $1,437,635,183 | $9,970,874,849 | 88 | 112 | ||
| 31 | ||||||
| LATOKEN | ||||||
| $258,363,350 | $1,981,710,963 | $7,302,154,338 | 212 | 297 | ||
| 32 | ||||||
| BitForex | ||||||
| $175,450,556 | $1,270,262,279 | $5,343,823,934 | 129 | 157 | ||
| 33 | ||||||
| Indoex | ||||||
| $1,432,753,716 | $11,538,985,680 | $46,460,322,492 | 33 | 100 | ||
| 34 | ||||||
| Pionex | ||||||
| $264,843,572 | $1,781,804,745 | $10,546,939,377 | 35 | 56 | ||
| 35 | ||||||
| Dexzbitz | ||||||
| $135,406,440 | $938,594,596 | $4,059,492,356 | 72 | 86 | ||
| 36 | ||||||
| Coinsbit | ||||||
| $1,300,165,862 | $9,155,926,025 | $45,808,948,751 | 42 | 59 | ||
| 37 | ||||||
| Gemini | ||||||
| $61,187,301 | $508,297,079 | $2,243,009,854 | 48 | 74 | ||
| 38 | ||||||
| Bitvavo | ||||||
| $60,095,552 | $525,239,699 | $2,608,710,762 | 143 | 144 | ||
| 39 | ||||||
| coincheck | ||||||
| $58,000,513 | $385,387,128 | $1,906,163,834 | 1 | 1 | ||
| 40 | ||||||
| Coinone | ||||||
| $92,864,021 | $656,388,988 | $3,241,612,817 | 86 | 86 | ||
| 41 | ||||||
| ZB.COM | ||||||
| $305,866,847 | $1,596,839,409 | $12,517,889,437 | 57 | 86 | ||
| 42 | ||||||
| Bitvast | ||||||
| $59,892,084 | $459,483,867 | $1,858,523,966 | 9 | 12 | ||
| 43 | ||||||
| bitFlyer | ||||||
| $76,566,280 | $541,921,499 | $2,754,564,649 | 3 | 6 | ||
| 44 | ||||||
| OKCoin | ||||||
| $58,614,290 | $394,477,849 | $1,767,423,699 | 19 | 27 | ||
| 45 | ||||||
| AscendEX (BitMax) | ||||||
| $71,254,228 | $522,897,039 | $2,325,602,766 | 126 | 151 | ||
| 46 | ||||||
| Dex-Trade | ||||||
| $138,263,014 | $1,044,251,723 | $4,160,933,871 | 83 | 137 | ||
| 47 | ||||||
| CoinMargin | ||||||
| $57,341,230 | $401,475,609 | $1,776,423,978 | 9 | 22 | ||
| 48 | ||||||
| Tidex | ||||||
| $90,302,155 | $704,385,588 | $3,262,971,367 | 14 | 31 | ||
| 49 | ||||||
| CoinTiger | ||||||
| $479,167,803 | $3,434,804,666 | $14,782,875,205 | 224 | 256 | ||
| 50 | ||||||
| Exmo | ||||||
| $54,076,881 | $388,850,493 | $1,742,384,963 | 35 | 128 | ||
| 51 | ||||||
| BTCTurk | ||||||
| $50,704,169 | $327,317,079 | $1,474,490,195 | 8 | 19 | ||
| 52 | ||||||
| BTC6X Exchange | ||||||
| $114,634,495 | $802,885,405 | $1,653,740,017 | 29 | 56 | ||
| 53 | ||||||
| Alterdice | ||||||
| $45,120,874 | $302,002,039 | $1,233,440,623 | 20 | 34 | ||
| 54 | ||||||
| Liquid | ||||||
| $40,368,828 | $226,171,472 | $1,272,691,904 | 53 | 123 | ||
| 55 | ||||||
| BETCONIX | ||||||
| $42,211,021 | $313,194,234 | $1,206,912,677 | 22 | 73 | ||
| 56 | ||||||
| Resfinex | ||||||
| $33,339,349 | $251,208,550 | $937,131,228 | 4 | 5 | ||
| 57 | ||||||
| Counos Exchange | ||||||
| $31,822,092 | $219,822,336 | $926,074,525 | 23 | 28 | ||
| 58 | ||||||
| Poloniex | ||||||
| $29,997,523 | $218,533,785 | $730,778,237 | 120 | 201 | ||
| 59 | ||||||
| Cryptology | ||||||
| $22,995,182 | $180,192,510 | $812,654,923 | 10 | 31 | ||
| 60 | ||||||
| Bitso | ||||||
| $21,887,282 | $153,800,446 | $610,986,165 | 8 | 15 | ||
| 61 | ||||||
| Paribu | ||||||
| $59,998,120 | $397,952,214 | $1,912,791,692 | 35 | 44 | ||
| 62 | ||||||
| MEXC | ||||||
| $980,647,431 | $9,466,933,214 | $33,860,190,310 | 565 | 599 | ||
| 63 | ||||||
| Bitinka | ||||||
| $62,710,544 | $351,410,710 | $1,277,248,575 | 15 | 40 | ||
| 64 | ||||||
| CoinEx | ||||||
| $21,064,323 | $169,796,532 | $772,248,649 | 162 | 319 | ||
| 65 | ||||||
| BigONE | ||||||
| $1,343,978,169 | $9,459,587,319 | $38,952,231,461 | 41 | 53 | ||
| 66 | ||||||
| Bittrex | ||||||
| $20,242,053 | $170,711,227 | $865,980,866 | 357 | 723 | ||
| 67 | ||||||
| Catex | ||||||
| $72,757,636 | $406,596,425 | $1,948,891,565 | 48 | 85 | ||
| 68 | ||||||
| TOKPIE | ||||||
| $19,059,996 | $119,640,979 | $634,447,552 | 104 | 117 | ||
| 69 | ||||||
| CoinField | ||||||
| $16,226,747 | $114,995,053 | $461,508,657 | 22 | 79 | ||
| 70 | ||||||
| ParamountDax | ||||||
| $18,542,067 | $138,239,663 | $636,450,461 | 6 | 5 | ||
| 71 | ||||||
| Bilaxy | ||||||
| $18,003,100 | $89,762,521 | $206,333,730 | 148 | 150 | ||
| 72 | ||||||
| Bitkub | ||||||
| $25,716,450 | $214,333,828 | $1,237,033,820 | 24 | 24 | ||
| 73 | ||||||
| Tokenize | ||||||
| $14,473,841 | $76,347,357 | $391,445,312 | 14 | 32 | ||
| 74 | ||||||
| ProBit Exchange | ||||||
| $86,004,837 | $587,990,384 | $2,738,593,056 | 323 | 444 | ||
| 75 | ||||||
| Luno | ||||||
| $11,942,118 | $92,168,551 | $408,866,143 | 3 | 13 | ||
| 76 | ||||||
| Btcix | ||||||
| $12,280,619 | $105,392,260 | $385,639,634 | 20 | 43 | ||
| 77 | ||||||
| Polyx | ||||||
| $11,772,264 | $73,327,413 | $370,687,040 | 4 | 4 | ||
| 78 | ||||||
| Garantex | ||||||
| $10,538,572 | $87,019,980 | $507,919,961 | 4 | 10 | ||
| 79 | ||||||
| KickEX | ||||||
| $18,113,639 | $120,180,173 | $531,768,938 | 9 | 11 | ||
| 80 | ||||||
| Kanga | ||||||
| $9,920,886 | $63,071,735 | $264,423,506 | 38 | 59 | ||
| 81 | ||||||
| ArthBit | ||||||
| $60,627,878 | $430,826,461 | $1,750,692,583 | 6 | 5 | ||
| 82 | ||||||
| Omgfin | ||||||
| $9,002,963 | $62,129,212 | $282,348,746 | 13 | 33 | ||
| 83 | ||||||
| CoinAmount | ||||||
| $8,925,752 | $61,778,574 | $272,118,654 | 25 | 61 | ||
| 84 | ||||||
| Independent Reserve | ||||||
| $7,629,013 | $42,273,159 | $201,146,675 | 13 | 39 | ||
| 85 | ||||||
| Indodax | ||||||
| $7,791,268 | $71,205,360 | $325,460,625 | 174 | 176 | ||
| 86 | ||||||
| Koinbazar | ||||||
| $7,437,622 | $51,672,449 | $225,818,330 | 17 | 22 | ||
| 87 | ||||||
| Coin163 | ||||||
| $175,396,788 | $571,344,932 | $5,692,030,837 | 42 | 57 | ||
| 88 | ||||||
| CEX.IO | ||||||
| $5,266,055 | $51,459,561 | $213,135,409 | 113 | 234 | ||
| 89 | ||||||
| Bitpanda Pro | ||||||
| $4,781,198 | $39,982,951 | $200,261,439 | 39 | 45 | ||
| 90 | ||||||
| ZBG | ||||||
| $16,572,287,417 | $73,300,194,605 | $327,530,376,560 | 34 | 43 | ||
| 91 | ||||||
| OceanEx | ||||||
| $40,779,749 | $286,642,038 | $1,242,094,576 | 30 | 56 | ||
| 92 | ||||||
| Covesting | ||||||
| $63,837,972 | $446,807,145 | $1,922,888,233 | 13 | 17 | ||
| 93 | ||||||
| Cryptonex | ||||||
| $4,544,023 | $35,410,964 | $160,283,512 | 3 | 16 | ||
| 94 | ||||||
| Korbit | ||||||
| $3,444,533 | $38,906,788 | $173,987,645 | 12 | 12 | ||
| 95 | ||||||
| BTC Markets | ||||||
| $3,027,429 | $27,762,335 | $119,310,708 | 14 | 17 | ||
| 96 | ||||||
| BitPreço | ||||||
| $4,680,137 | $31,102,307 | $130,582,307 | 3 | 3 | ||
| 97 | ||||||
| BitoPro | ||||||
| $3,023,188 | $24,449,209 | $141,034,477 | 12 | 22 | ||
| 98 | ||||||
| BitGlobal | ||||||
| $49,461,872 | $387,018,630 | $1,993,174,523 | 143 | 183 | ||
| 99 | ||||||
| Tarmex | ||||||
| $2,782,238 | $19,642,958 | $88,818,082 | 18 | 29 | ||
| 100 | ||||||
| Bithumb Global | ||||||
| $77,375,936 | $630,478,404 | $5,422,309,481 | 137 | 175 |
Exchanges that are Firing their Employees Now
The last couple of months hasn’t been that promising as far as the cryptocurrency market is concerned. During this course, we have seen how major cryptocurrencies including bitcoin, Ethereum, etc. tanked in value. Market conditions haven’t improved and off late, it has been observed that quite a good number of crypto exchanges are laying off their employees. On the same lines, have a look at the top 10 crypto exchanges that are firing their employees now.
Gemini
Amid the current bearish market, Gemini had cut down its employees by about 10%. It is also speculated that the same trend is likely to continue for some more time.
Coinbase
As the market conditions have not improved, a lot of crypto exchanges have stuck to their decision of downsizing. Coinbase is one among them. A lot of employees have been shown the exit door and the exchange is not likely to make fresh recruitments any time soon.
Blockfi
Blockfi is yet another crypto exchange that has been in the news for quite some time. It has laid off employees drastically and thus makes it to the list of top 10 crypto exchanges that are firing their employees now.
Bitpanda
Bitpanda, a renowned crypto exchange platform, has recently announced a mass layoff. With this step, the firm aims to get out of the current bearish market condition.
Bitso
Bitso is a renowned Latin American exchange that has laid off a good number of employees. The company cited internal issues for the same. Adding to this, the company stated that the current status of the organization is not in line with its goals and market strategies.
Robinhood
Investors know Robinhood as quite a friendly trading platform. It was in April that the exchange’s stock HOOD had tanked to an all-time low value and following this, the exchange had to lay off its employees.
Bybit
Bybit, that is, highly dependent on professionalism and rapid execution capabilities have been in the limelight, definitely not for the right reasons. The very news that the company is cutting a whopping 30% of its 2,000 people workforce, is no less than a shock for crypto investors.
2TM
Yet another popular cryptocurrency exchange that laid off a significant percentage of its total number of workers is 2TM. This second-largest cryptocurrency exchange in Latin America is also a victim of the current financial condition.
Blockchain.com
Amid the current economic downturn, blockchain.com too announced a massive layoff. Reportedly, the company has laid off around 25% of its workforce.
Vauld
Vauld is one cryptocurrency exchange that has been drastically hit given the current bearish market conditions. It has suspended all withdrawals, trading, and deposits on its platform.
Some Exchanges also hire new Employees
Kraken
Kraken, the fourth-largest exchange by daily volumes, announced that it will be hiring over 500 employees despite the plunge in the market. The exchange said it is determined to meet its hiring commitments irrespective of the decline in crypto prices.
Dexzbitz.live
Dexzbitz.live malta based exchange also want to hire 100 people
Coinbase, Gemini cut roles
In contrast to openings in Binance and Kraken, several other crypto exchanges are cutting roles.
Coinbase, the biggest of the lot, said is laying off about 18% of its total employees, a move that will see 1,100 people leaving the firm. The firm also announced a hiring freeze earlier this year.
Comments
Post a Comment