{"id":6846,"date":"2023-05-02T17:52:08","date_gmt":"2023-05-02T17:52:08","guid":{"rendered":"https:\/\/www.bitcoincasinos.com\/?p=6846"},"modified":"2023-05-02T17:52:08","modified_gmt":"2023-05-02T17:52:08","slug":"bitcoin-trading-volume-sank-almost-700b-in-april","status":"publish","type":"post","link":"https:\/\/www.bitcoincasinos.com\/blog\/2023\/05\/02\/bitcoin-trading-volume-sank-almost-700b-in-april\/","title":{"rendered":"Bitcoin Trading Volume Sank Almost $700B in April"},"content":{"rendered":"<p>Historically, April has been one of the strongest months for Bitcoin and other cryptocurrencies, bringing the biggest average monthly returns. However, this year, that wasn&#8217;t the case. Although Bitcoin topped over $30,400 on April 18, reaching the highest level since early June, its monthly gain was only 3%, way down from 21% in March and much less than gains usually seen in the fourth month of the year. The monthly trading volume of the most expensive crypto also significantly dropped.<\/p>\n<p>According to data presented by <a href=\"https:\/\/www.bitcoincasinos.com\/\">BitcoinCasinos.com<\/a>, Bitcoin trading volume sank by almost $700bn in April. Here is the list of other most traded crypto coins and their trading volumes last month.<\/p>\n<h3><strong>All Major Cryptocurrencies Saw a Double-Digit Trading Volume Drop<\/strong><\/h3>\n<p>A significant drop in Bitcoin trading volume after its price surge may show investors adopting a wait-and-see approach or moving their capital to other cryptos. According to CoinMarketCap data, Bitcoin`s monthly trading volume amounted to $492.9bn in April, or 58% less than almost $1.2trn seen a month before.<\/p>\n<p><script id=\"infogram_0_f45d53de-0e58-4d24-b7dc-c9dd9a4447f6\" title=\"Top 10 most traded cryptos in April\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?gbf\" type=\"text\/javascript\"><\/script><\/p>\n<p>However, Bitcoin was not the only digital coin whose monthly trading volume declined in April. In fact, statistics show all major cryptocurrencies saw a double-digit drop. Tether`s trading volume was down by 38% month-over-month to $730.5bn. Ethereum saw a 28% decline and around $230bn in 30-day trading volume. USD Coin, the fourth most-traded digital coin in the crypto space last month, saw a 38% decline and $97.5bn in monthly trading volume.<\/p>\n<p>Binance USD, as the fifth most-traded crypto in April, hit $75.5bn worth of trades, or 28% less than in March.<\/p>\n<h3><strong>XRP Trading Volume Plunged 74% in April, the Biggest Drop Among the Top 10 Cryptos<\/strong><\/h3>\n<p>The CoinMarketCap data show TrueUSD climbed to the sixth spot of the most-traded cryptos in April. The USD-backed stablecoin saw $41.1bn worth of transactions last month, four times more than Polygon and Solana and almost six times more than Dogecoin, which didn`t even rank on the top ten list in April.<\/p>\n<p>XRP slipped two spots and ranked as the eighth most-traded digital coin in the crypto space, with $24.3bn in trading volume. Still, its monthly trading volume plunged 74% compared to March, showing the biggest drop among the top ten cryptos. BNB and Pepe closed the top ten list, with $21.4bn and $16.8bn in 30-day trading volume, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Historically, April has been one of the strongest months for Bitcoin and other cryptocurrencies, bringing the biggest average monthly returns. However, this year, that wasn&#8217;t the case. Although Bitcoin topped over $30,400 on April 18, reaching the highest level since early June, its monthly gain was only 3%, way down from 21% in March and &hellip; <\/p>\n","protected":false},"author":69,"featured_media":6848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Trading Volume Sank Almost $700B in April - Bitcoin Casinos<\/title>\n<meta name=\"description\" content=\"Historically, April has been one of the strongest months for Bitcoin and other cryptocurrencies, bringing the biggest average monthly returns. However, this year, that wasn&#8217;t the case. Although Bitcoin topped over $30,400 on April 18, reaching the highest level since early June, its monthly gain was only 3%, way down from 21% in March and &hellip;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bitcoincasinos.com\/blog\/2023\/05\/02\/bitcoin-trading-volume-sank-almost-700b-in-april\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Trading Volume Sank Almost $700B in April - Bitcoin Casinos\" \/>\n<meta property=\"og:description\" content=\"Historically, April has been one of the strongest months for Bitcoin and other cryptocurrencies, bringing the biggest average monthly returns. However, this year, that wasn&#8217;t the case. 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