Kraken and Bybit increased their average monthly spot trading volumes during H1 2023, while Bitget progressed on the derivatives field.
One of the most calamitous events in the crypto world last year – the demise of FTX – negatively impacted the entire industry. It undermined the trust in centralized exchanges, causing numerous investors to back off them and shift towards self-custody or to sell their stash.
Some of the biggest losers seem to be Bitfinex, Kucoin, Gate.io, and OKX. The average monthly spot trading volume of Bitfinex six months before the fallout was over $12 billion, compared to $5 billion half a year later.
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