The Surprising Dip in Derivatives Trading Volume on Major Exchanges in April by 1.4%.
Binance, the king of centralized exchanges, saw a whopping 72% surge in futures trading last month. The Wu Blockchain team revealed that this explosive growth was sparked by Binance’s genius move of offering a limited-time discount on USDC perpetual contracts. Traders flocked to the platform like bees to honey, resulting in a major boost in perpetual agreement trading.
April may have brought showers, but it also brought a decrease in trading volume of 26.6% – a stormy setback for the market. The top three exchanges, Bitget, Crypto.com, and HTX, saw the biggest declines in futures trading, with Bitget taking the biggest hit at 16.1%, followed by Crypto.com at 15.6% and HTX at a 13.4% drop.
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But There’s Hope on the Horizon as Binance Futures Offers Exciting Discounts on USDC-Margined Perpetual Contracts, Giving Traders a Chance to Save Big on Their Trades.
The news shook the cryptocurrency world as Binance’s founder, Changpeng Zhao, was handed a four-month prison sentence for violating the Bank Secrecy Act. As if that wasn’t enough, the exchange was slapped with a whopping $4.4 billion fine.
In a shocking turn of events, Zhao admitted his guilt and struck a deal with the authorities, stepping down as CEO of Binance and agreeing to pay a hefty $50 million penalty.