Trading Volumes Rise on US-Based Cryptocurrency Exchanges! Here Are the Details

In the crypto market, USD-backed exchanges saw a significant recovery in trading volume last month. Total volume on platforms offering direct trading in USD pairs and stablecoins like USDT and USDC reached $279 billion. Trading Volume Increases on USD-Backed Crypto Exchanges: US Investors Re-Active While market leaders Crypto.com, Coinbase, and Kraken maintain their strong positions in USD-based trading pairs, smaller exchanges have also begun to share in this increase. Although US users face restrictions on many global platforms, they still account for over 10% of global trading volume, highlighting the influence American investors have on the market. Meanwhile, recent announcements by the US Commodity Futures Trading Commission (CFTC) regarding regulations on offshore exchanges have raised expectations that American users will regain access to platforms like Binance. This prospect highlights the $850 billion in monthly volume currently inaccessible to US investors on Binance and Bybit. Speculation has also impacted decentralized exchanges. The price of the HYPE token has fallen on expectations that US investors will regain access to Binance. This development demonstrates that Binance's influence in global markets is felt even in regions where it doesn't operate. According to experts, Binance's possible return to the US market could seriously shake the current market balance. *This is not investment advice. Continue Reading: Trading Volumes Rise on US-Based Cryptocurrency Exchanges! Here Are the Details