Cryptocurrency Exchange Volume Hits Six-Month Low Amid Rising Derivatives Demand

On April 20, the combined trading volume (7 DMA) on platforms such as Binance, Coinbase, and Bitfinex fell to $30 billion—its lowest since mid-October 2024. This data was reported by The Block.

From a peak in early December ($132 billion), the figure has plummeted by more than 75%.

Similar trends are observed among DEXs. By the end of April, turnover may also reach its lowest since October.

The publication noted a decline in market activity following a brief surge at the start of the month after President Donald Trump’s “liberating” tariffs, which triggered increased volatility.

Crypto Derivatives

The ratio of Bitcoin trading on the spot to the futures market (30 DMA) decreased to 0.19—its lowest since August 2024. For Ethereum, the corresponding metric fell to its lowest since December 2023 (0.2).

According to the publication, the weekly volume of Solana-DEX increased relative to its Ethereum counterpart, reversing the trend characteristic of mid-January to March.

Earlier, the volume of coins staked in Solana equaled that of Ethereum. Experts did not interpret this as a bullish signal for SOL.

In February, VanEck forecasted Solana’s rise to $520 by the end of 2025.