News digest of the cryptocurrency world for the week
Last week we remembered important positive news, the announcement of Q1 2023 results and new advances in the cryptocurrency world. Despite a correction of almost 2%, BTC held an important level above $27,500. During the first quarter, trading volume on the 15 largest cryptocurrency exchanges rose more than 40% to nearly $11 trillion, surpassing the level of May last year. This indicator is one of the most important for assessing the future trend and further development of the entire crypto industry.
The largest share of the entire cryptocurrency market still belongs to the Binance exchange, which accounts for more than 55% of the total trading volume. OKX and Bybit exchanges are also in the top three. The ten largest exchanges had $2.4 trillion in trading volume on spot markets, up 16% from the previous quarter, while trading volume on futures and other derivatives markets increased more than 30% to $7.8 trillion. Decentralized exchanges (DEX) are leading DeFi in terms of transaction volume. Cryptocurrency services providing liquid stacking services ranked second.
Visa plans to integrate with popular blockchains based on its own project. The company’s head of cryptocurrency stated this on Twitter. The main task is to introduce payment systems using stackcoins, which should significantly improve the mechanisms of transfers, make them more convenient and faster. After the cryptocurrency market collapsed in 2022, Visa froze a number of major projects in support of stablcoins, but with the advent of the crypto spring, they are becoming relevant again.
In April, Decimal held a contest with a big prize (200,000 DEL) on the BIT.TEAM marketplace in conjunction with INTERLUDE. According to the rules of participation, it was necessary to buy DEL coins from March 27 to April 27 of this year. The first three place winners received 100, 60 and 40,000 DEL. Those who placed fourth through tenth received DecimalChain team branded merch kits, a year of premium status for their account, and a prize pool in BTT to pay commissions.
Crypto-winter seems to be winding down, with more and more positive news coming out, confirming hopes for a great future for the crypto industry, with new big players and regulators integrating in. Stay tuned for the latest developments.