Cryptos: 12,944
Exchanges: 221
Dominance: BTC: 38.47% ETH: 16.47%
ETH Gas: 13 Gwei
  • Low: 11 Gwei
  • Average: 13 Gwei
  • High: 14 Gwei
  • Data from Etherscan.
24H Spot Vol.: $74,397,741,998.30
24H Derivatives Vol.: $97,058,785,680.59
Global Open Interest: $42,684,016,982.44
English 中文

2021 Q1 Cryptocurrency Spot Trading Research Report

TI Research
2021 Q1 Cryptocurrency Spot Trading Research Report From: Google

Both the spot trading volume and market value of 2021Q1 reached the highest level in the history of the crypto market: the spot trading volume of the entire crypto market exceeded $14T, surpassing the full-year trading volume of 2019. The overall market value of the crypto market reached $1.86T at the end of the quarter, which surpasses the total market value of the Australian stock market and catches up with the world's major capital markets. Most centralized exchanges (CEX) achieved a relatively stable performance this quarter, and many exchanges also showed significant growth. Moreover, compared with centralized exchanges, decentralized exchanges (DEX) in 2021Q1 are gradually stabilized.

Table of Contents
  1. Executive Summary

Executive Summary

  • In 2021 Q1, the total spot trading volume of crypto assets reached a quarterly high of $14 trillion, surpassing the full-year trading volume in 2019, equivalent to 66.4% of the full-year trading volume in 2020 ($21.08 trillion), accounting for about 46.06% of the entire market.
  • At the beginning of Q1, the market value of the crypto asset market was about $772.5 billion, which was equivalent to the total market value of Singapore stock market. By the end of March, the market value of the crypto asset market had risen to $1.86 trillion, surpassing the total market value of the Australian stock market.
  • Compared with Bitcoin, the impact of the price of Ethereum on the market value of crypto assets is about four times that of Bitcoin, fully certifying the growth of the DeFi ecosystem. The total value locked of DeFi has the most significant impact on the price of Ethereum in Q1.
  • The linkage between Ethereum and Bitcoin remained relatively close in Q1. Due to the core role of Ethereum in DeFi, smart contracts are very obvious for Ethereum’s long position.
  • The token UNI of Uniswap is one of the top ten non-mainstream tokens with the highest market value increase in 2021 Q1, and BNB is the platform currency with the best overall performance.
  • Binance is also the only exchange with a trillion-level trading volume in spot this quarter. There are more than 30 exchanges with a quarterly turnover exceeding $100 billion in the entire market, and these exchanges collectively account for over 45.77% of the market.
  • Compliance exchanges have relatively low trading volume, but their user activity is significantly higher than the market average.
  • KuCoin, ZT, FTX, etc. have achieved certain share growth, and Binance exchanges have become increasingly prominent in the spot market.
  • Despite being challenged by such exchanges as Sushiswap and Curve, Uniswap V2 still holds the first position in DEX by advantage of its first-mover; Pancake Swap's market share has risen to the second place in the DEX market at the end of the quarter. The rapid development of BSC in Q1 and the support of Binance for high-quality on-chain DeFi projects are important influence factors.

For the English version of the Report, please click the click below.

TI Research

TokenInsight is a data and research organization for the digital asset market. TI provides comprehensive asset-related data and comprehensive and timely information and research services for digital assets.

The news, articles, reports or other information we provide are based on public sources considered to be reliable, but TokenInsight does not guarantee the accuracy or completeness of any information contained herein. The news/articles/reports or other information had been prepared for informative purposes only and does not constitute an offer or a recommendation to purchase, hold, or sell any digital assets (cryptocurrencies, coins, and tokens) or to engage in any investment activities. Any opinions or expressions herein reflect a judgment made as of the date of publication, and TokenInsight reserves the right to withdraw or amend its acknowledgment at any time in its sole discretion. TokenInsight will periodically or irregularly track the subjects of news/articles/reports or other information we provide to determine whether to adjust the acknowledgement and will publish them in a timely manner.

We adhere to high standards and values of reporting news, and we do our best to be objective and unbiased at all times.

TokenInsight takes its due diligence to ensure news/articles/reports or other information we provide a true and fair view without potential influences of any third party. There is no association between TokenInsight and the subject referred in the contents which would harm the objectivity, independence, and impartiality of the reporting.

Trading and investing in digital assets (cryptocurrencies, coins, and tokens) may involve significant risks including price volatility and illiquidity. Investors should be fully aware of the potential risks and are not to construe the content of the report as the only information for investment activities. None of the products or TokenInsight Inc, nor any of its authors or employees shall be liable to any party for its direct or indirect losses alleged to have been suffered on account thereof.

All rights reserved to TokenInsight.