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April’s Crypto Market Spot Volumes Slip Close to 19% Lower Than Last Month
The crypto economy finished April in the red, with most digital assets losing value during the last several weeks. All ten of the biggest crypto assets are down considerably at the time of writing, having lost between 10.39 percent and 31.43 percent in the last 30 days. According to metrics, bitcoin exchange volumes in April were 18.95 percent lower than in March.
Over the previous 30 days, bitcoin has lost 15.43 percent, ethereum has lost 17.49 percent, BNB has lost 10.39 percent, Solana has lost 31.43 percent, and XRP has lost 25.27 percent. Terra has lost 27.66 percent, cardano has lost 31.39 percent, while dogecoin has only lost 3.46 percent in the last month, according to trailing 30 day statistics.
In terms of global crypto spot market volume, statistics reveal that $739.4 billion in transaction activity was recorded in March. According to the Block's Legitimate Index and Crypto Compare measures, April's spot volume was $599.22 billion.
30 Day Crypto Derivatives Volume Slide, Dex Volumes Slip, NFT Sales Increased by 64%
The same can be said for crypto derivatives markets, with statistics indicating that bitcoin futures turnover in April was $1.06 trillion, compared to $1.32 trillion in March. In terms of bitcoin futures open interest, April's figures are also lower than the previous 30 days.
Bitcoin futures open interest is $14.58 billion today, compared to $16.59 billion a month ago. In April, the volume of bitcoin options traded on Deribit, CME, Okex, Bit.com, Ledgerx, FTX, and Huobi was lower than the previous month. The volume of bitcoin options in March was $20.77 billion, while the volume in April was $15.81 billion.
Furthermore, according to a recent defi study highlighted by Bitcoin.com News, decentralized exchange (dex) trade volumes in April were 21% lower than in March. The dex trading volume in March was $117 billion, while the dex trade volume in April was $92.18 billion.
Non-fungible token (NFT) sales, on the other hand, increased by 39.25 percent in the past seven days, bringing total NFT sales to 64.44 percent in the last month. With $492 million in global sales this month, Moonbirds was the best-selling NFT collection.
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