As Bitcoin Volumes Drop Sharply From Yearly Peak, Binance Scoops Up More Market Share

Crypto Trading Activity Sinks, But Binance Rises Above the Fray

As crypto markets grapple with ongoing price corrections and macroeconomic jitters, overall trading activity is fading — yet Binance is quietly tightening its grip on the market.

According to data from CryptoQuant, bitcoin (BTC) spot trading volume on global exchanges nosedived from $44 billion on February 3 to just $10 billion at the end of March — a dramatic 77% drop. Altcoin trading volumes fell even further, collapsing from $122 billion to $23 billion, a steep decline of over 80%.

Such a widespread plunge signals a growing sense of caution and fatigue among traders and investors. Analysts point to a mix of recession worries, geopolitical tension, and bond market volatility as reasons participants are retreating from risk, waiting for more clarity before jumping back in.

Binance Becomes the Go-To Exchange

While volumes decline across the board, Binance has been gaining market share. The exchange’s portion of global bitcoin spot trading climbed from 33% to 49% by the end of Q1. For altcoins, Binance’s share rose from 38% to 44% in the same period, suggesting traders increasingly rely on Binance when uncertainty clouds the broader crypto space.

Even with lower volumes, Binance remains a hub for actively traded tokens like BNB, Toncoin (TON), and EOS — coins that have maintained user engagement despite the market pullback.

Inflows Surge as Traders Prepare for Volatility

In a notable trend, bitcoin reserves on Binance have swelled in recent days. Independent analyst Martuun from CryptoQuant highlighted that BTC reserves on the exchange jumped by over 22,000 coins — from 568,768 BTC on March 28 to 590,874 BTC by April 9.

This influx suggests traders are moving capital to Binance in anticipation of volatility tied to macro events, including the upcoming U.S. Consumer Price Index (CPI) report and ongoing uncertainty surrounding U.S.-China relations.

“Binance is increasingly becoming the staging ground for crypto investors positioning for big market moves,” Martuun noted.

Even as overall interest wanes in the short term, Binance’s rise illustrates how some platforms manage to grow stronger while others struggle to hold their footing in turbulent times.