Cumulative spot trading volume on centralized crypto exchanges fell in April, representing the first month-to-month decline in seven months, according to The Block Data Dashboard.

After spot volumes on centralized crypto exchanges more than doubled in March to reach nearly $2.5 trillion, they then fell in April to $1.6 trillion, according to The Block Data Dashboard. The last month-to-month decline occurred in September 2023. This matches trends found by analytics firms such as CCData, which also observed declines in spot volume for the first time in seven months. 

The drop in spot trading volumes across exchanges like Binance, OKX and Coinbase coincided with the price of bitcoin dropping by about $10,000, or 15%, during the month of April. Binance maintained its top spot with $700 …