Recently, prominent data analytical firm TokenInsight has released two reports about the Crypto-currency Spot Exchange industry and Derivatives markets for the first quarter of the year 2020. TokenInsight evaluated reports from over 300 crypto spot exchanges to prepare this report.

Excerpts from the report are as follows:

• 2020 Q1- Trading Volume reached 6.6 trillion with 104% surge
• Over $2.1048 trillion Crypto Derivatives Traded in Q1 with a 314 % increase
• Plummet in Bitcoin due to Cascading Effect
• Binance has Maximum Spot Market Share in the Trading Volumes of Crypto Exchanges
• Exchange-based Tokens gained More Market Stability than in 2019
• US Crypto enthusiasts Topped the ‘Crypto Exchange-sites - Visitors list

2020 Q1- Trading Volume reached 6.6 trillion with 104% surge 

The trading volume of the crypto asset spot market has increased by 104% in the first quarter of 2020. A trading volume of $ 6.6 trillion has been estimated over the past quarter.

The Report explains that with the confidence interval of 60% - 70%, the trading volume of the entire market has reached around 3.9 trillion - 4.6 trillion. Though the wash trading volume has affected the markets, the increase is significant.

Over $2.1048 trillion Crypto Derivatives Traded in Q1 with 314 % Increase 

In it’s another report on derivatives - ‘2020 Q1 Cryptocurrency Derivatives Exchange industry Report’, TokenInsight states that in the 2020 Q1, the total futures volume has reached USD 2.1048 trillion which is an increase of 314% than the average of four quarters in 2019.

Sharp Plummet of Bitcoin due to Cascading Effect 

The Cascading effect has affected the markets significantly which caused the nosedive of Bitcoin by more than 37% on 12 March 2020. As per TokenInsight, the reasons could be Bitcoin liquidity issue, channel limits for liquidity, market panic, and partial sell-off pressure surfaced in the spot markets.

Binance has Maximum Spot Market Share in the Trading Volumes of Crypto Exchanges 

Top Crypto exchange Binance has gained 39% of the total market share in the trading volumes. OKEx ranked second with 30% market share and Huobi Global ranked third with over 20% market share. Other exchanges could not reach more than 10% of the market share.

Exchange-based Tokens gained More Market Stability than in 2019

The first quarter witnessed more stability as compared to the volatility in 2019 with a price increase of the exchange-based tokens by 4 %. Prices of ZT, BHT, LEO, OKB, and ZB tokens have increased by almost 20%. ZT tops among these tokens with almost 50% price gain.  

US Crypto enthusiasts toped the ‘Crypto Exchange-sites - Visitors list 

The report reveals that visitors from the United States, Turkey, and Russia explored crypto exchange sites the most followed by Vietnam, the United Kingdom, and France.

Whereas the top crypto asset exchanges KuCoin, Binance, and Poloniex got more than 4.5% followers in the first quarter.

More about TokenInsight

Disclaimer

The information provided through the above Content is for informational purposes only. The Content is not intended to be, and does not, constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. We do not make any guarantee or other promise as to any results that may be obtained using our Content. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice, and/or recommendations prove to be inaccurate, incomplete, or unreliable or result in any investment or other losses.

Jayashree Ingle

CBW - External Analyst

INDIA