Exchange Review - May 2022

Report Summary

Markets declined in May as Bitcoin and Ethereum closed the month at $31,782 and $1,941, falling 15.6% and 28.8% respectively. As a result, volatility increased and spot volumes on centralised exchanges rose 13.6% to $1.97tn, with a daily maximum of $148.8bn traded on the 11th of May, the day TerraUSD collapsed.

May Highlights

  • The crypto market experienced one of the largest month-on-month declines this May wiping out $460bn in market capitalization (data up to 26th May), with the majority of this decline occurring within a 4-day period beginning May 8th.  
  • FTX overtook Coinbase and OKX in spot trading volume for the first time in May. FTX spot market volumes reached $89.4bn, an 80.8% increase from the month prior.
  • Binance retained its position as the largest exchange by volume with a market share of 50.9%, trading $532bn, a 14.3% increase from April.
  • BTC futures contracts in CME recorded the highest number traded since February 2021 with a volume of 250,650. Meanwhile, ETH futures contracts reached an all-time high volume with 136,165 contracts traded, rising 63.0% from April.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
DOWNLOAD REPORT
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
No items found.