Bitcoin trading volumes declining across numerous exchanges

According to a recent review of top crypto exchanges’ performance in 2019,
a crypto analytics site CryptoCompare has deduced that the trading volume has
been on a significant decline in recent months. Meanwhile, when it comes to the
derivatives market, Binance is experiencing a sharp rise which is taking it up
through the ranks.

Trading regular cryptocurrencies, on the other hand, has been dropping in late 2019, resulting in around $432 billion traded in December. The largest exchanges have experienced the most severe drop — up to 26%, according to the report.

The bearish trend has been gaining strength ever since the second half of June when crypto prices saw another severe drop after reaching their peak in 2019. As many likely remember, this was just after Bitcoin approached the $14k mark, after which it started going down again.

At the same time, CryptoCompare also noted
that the market appears to be leaning towards lower-quality exchanges. Analysts
reached this conclusion…