According to Kaiko data, Gemini’s trading volume fell 46% between January and April this year compared to the September-December period last year, one of the steepest declines. The drop was almost six times the drop for Coinbase.
Additionally, roughly $747 million in cryptocurrencies changed hands on Gemini in April, according to CCData. This equates to 0.12% of global spot trading volume last month. That’s up from February, when Gemini’s share hit a low of 0.07%.
However, April’s figure was still almost half that of a year ago, down from almost 5 percent in 2017. Compared with many of Gemini’s competitors, including Coinbase and Kraken, both of which gained market share in April from a year earlier, Binance, the world’s largest cryptocurrency exchange, saw its share of global trading volume increase from a year ago. 31% climbed to 46%.
Gemini trading volume fell 46% between January and April of this year
