{"id":20087,"date":"2019-05-20T17:48:21","date_gmt":"2019-05-20T17:48:21","guid":{"rendered":"http:\/\/ci027cfe71100626c3"},"modified":"2025-01-27T21:55:49","modified_gmt":"2025-01-27T21:55:49","slug":"during-bullish-april-fiat-crypto-exchanges-outperform-crypto-crypto","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/during-bullish-april-fiat-crypto-exchanges-outperform-crypto-crypto","title":{"rendered":"During Bullish April, Fiat-to-Crypto Exchanges Outperform Crypto-to-Crypto"},"content":{"rendered":"
<\/div>
<\/figure>\n

In its April 2019 Exchange Review<\/a>, released on May 20, 2019, London-based crypto data analysis firm CryptoCompare found that fiat-to-crypto exchanges performed much better than crypto-to-crypto platforms did over the last month, as cryptocurrency prices rose across the board.<\/p>\n

According to the report, fiat-to-crypto exchanges enjoyed an impressive 85 percent uptick in monthly trading volumes in April 2019. Bithumb, UPbit and Bitfinex were the highest performing of these, with volumes amounting to $17 billion, $8.7 billion and $6.7 billion, respectively.<\/p>\n

It\u2019s worth noting that Bitfinex was found to within the top-three of fiat-to-crypto exchanges, holding off strong competition from the likes of Kraken and Coinbase. The exchange is currently embroiled in a legal squabble with the Office of New York\u2019s Attorney General, after it was accused<\/a> of misappropriating funds from its Tether reserves as a means of covering up as much as $850 million in undocumented losses.<\/p>\n

Meanwhile, crypto-to-crypto exchange volume increased by only 57 percent. While still a positive sign, this lag behind fiat-to-crypto volume may indicate that investors are more interested in amassing more cryptocurrency, rather than converting one type of crypto asset into another, in this particularly bullish market.<\/p>\n

The report revealed that FCoin, a platform based in China, saw a massive 300 percent increase in volume in April, ending the month with $37.1 billion in trades. Hong Kong-based OKEx was second on the list of crypto-to-crypto exchanges, conducting $35.1 billion in trades, and the third spot was held by ZB with $32.4 billion in trade volume.<\/p>\n

In total, April saw a 49 percent increase in volumes across exclusively crypto-paired exchanges, as $396 billion was traded. Crypto-to-fiat trading pairs saw a 25 percent increase, holding strong at $72 billion, while crypto-to-crypto volumes held 84.5 percent of the total spot volume for the month.<\/p>\n","protected":false},"excerpt":{"rendered":"

In an analysis of cryptocurrency exchange performance in April, CryptoCompare found that fiat-to-crypto exchanges performed better than crypto-to-crypto platforms did as cryptocurrency prices rose across the board.<\/p>\n","protected":false},"author":3435,"featured_media":11380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[1961,3275,1729],"class_list":{"0":"post-20087","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bitfinex","9":"tag-bithumb","10":"tag-okx"},"author_data":{"id":3435,"name":"Jimmy Aki","nicename":"jimmy-aki","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/jimmy-aki-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/during-bullish-april.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/20087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3435"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=20087"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/20087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/11380"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=20087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=20087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=20087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}