Downfall to Crypto Exchanges Globally
Even if we can see many positive news in the crypto sectors, crypto exchanges remain on the downside.
In May 2023, the total revenue of crypto exchanges in global level were around $440 billion, almost 27 % down from April 2023, which were around $604 billion.
The revenue was the lowest for the last 3 years, when in October 2020, there were revenue of $222 billion.
A large portion of responsibility was in Binance, the largest crypto exchange in the world, that has started to restructure markets like the USA and Canada.
The larger the crypto exchanges are, so much powerful is their effect on the market momentum.
We expect to see how the market will react, waiting to take a positive or negative momentum.
And how long it will take….