On May 9, according to a report by CCData, a London-based digital asset data provider, the cumulative trading volume of the global cryptocurrency spot and derivatives markets fell by 43.8% in April this year, a sharp drop from the record high of US$9.12 trillion in March to US$6.58 trillion. This was the first monthly decline since September last year.
CCData said the decline occurred due to a combination of unexpected macroeconomic data, escalating geopolitical crises in the Middle East, and net outflows of funds into U.S. Bitcoin spot ETFs, causing major crypto assets to give up their gains in March. (CoinDesk)
