Crypto exchange Q1 report for 2024: Total trading volume increased by 72.5%, Binance continues to lead the market

2024 Q1 The Crypto market as a whole moved higher, and the price of Bitcoin also exceeded the $70,000 mark for the first time. So, what is the situation in the exchange market?

Written by TokenInsight

2024 Q1 The Crypto market continued the growth trend at the end of 2023. The total market value increased from $1.7T to about $2.7T. The price of Bitcoin also exceeded $70,000 for the first time in March. mark, creating a new historical ATH ($73,737.9).

In such a bull market, what is the situation of the exchange? We bring you the 2024 Q1 exchange quarterly report on time. In the report, we summarized the data performance of the exchange industry and selected the Top 10 centralized exchanges. We hope to help everyone understand the changes in the exchange market through changes in data.

The total trading volume of the Top 10 exchanges in 2024 Q1 is approximately $17T, an increase of 72.5% compared with 2023 Q4

Crypto 交易所总交易量

The total trading volume of the Top 10 exchanges in 2024 Q1 The volume is $17T, an increase of 72.5% compared to $9.9T in 2023 Q4. Comparing the increase in Q4 last year relative to Q3 (54%) and considering the current market conditions, the total exchange trading volume in Q2 2024 is expected to continue to rise.

In Q1 of 2024, the price of Bitcoin exceeded the $70,000 mark, creating a new historical ATH ($73,737.94), which basically remained around $70,000 in March. With the coming of halving, the price of Bitcoin is expected to continue to rise.

2024 Q1 Binance continues to lead the market with nearly half of the trading volume; Bitget’s share has the largest increase, reaching 2.77%

Crypto 交易所市场份额

Binance’s total trading volume in Q1 is $7.8T, the market share increased by 0.05% compared with Q4 of 2023, and still leads the market with a share of nearly half.

The market shares of exchanges such as Bitget, BingX, and Coinbase have increased this year. Among them, Bitget’s share has increased the most, close to 3%.

2024 Q1 The total spot trading volume of the Top 10 exchanges is close to $4T, up approximately 103% from Q4 last year

现货交易

2024 Q1 spot market trading volume continues Going higher, the transaction popularity continues to rise, with the total transaction volume approaching $4T, an increase of 103% from $1.96T at the end of last year, and an increase of more than 53% from $2.6T in Q4 of 2022.

According to the current market conditions and overall trading enthusiasm, there is a high probability that the spot trading volume in Q2 will continue to remain at a high level and is expected to rise again.

2024 Q1 experienced two derivatives trading volume peaks, which occurred when the BTC price exceeded $60,000 and $72,000 respectively

衍生品交易

2024 Q1 Derivatives Market The transaction volume was $13.2T, an increase of nearly 64.7% from $8T at the end of last year, and an increase of more than 71% from 2023 Q1.

The first peak of transaction volume in 2024 occurred at the end of February, when the price of Bitcoin exceeded $60,000, and the 24h transaction volume exceeded $350B for the first time in the past year; the second peak occurred a week later, in March. In the middle of the month, the price of Bitcoin exceeded $72,000, and the 24-hour derivatives trading volume reached $473B.

2024 Q1 Binance and Bybit ranked first and second in open interest market share, with increases exceeding 0.9%

未平仓量份额

2024 Q1, Top 10 The share of open interest on derivatives exchanges has not changed significantly from the end of last year. Binance (0.95%) and Bybit (0.97%) ranked first and second respectively. The shares of BingX, KuCoin and Crypto.com increased slightly. The shares of OKX (-1.63%) and Deribit (-1.02%) increased slightly. A relatively large decline, with a decline of more than 1%.

All platform coins are on the rise in 2024 Q1, and the price increases of GT, BNB and BGB are all higher than the price increases of BTC

中心化交易所平台币

As the market As popularity and trading enthusiasm increase, all platform coins will show an upward trend in Q1 of 2024. Among them, the platform coins with the largest price increases are GT, BNB and BGB, with increases of 108%, 95% and 81% respectively, which are all greater than the increase of BTC in Q1.

The performance of CRO, MX, LEO and WBT is slightly lower than BTC, in the 45%-55% range. The increases of OKB and KCS are relatively small, neither exceeding 20%.

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