Jacob Joseph News

Trading volume on major cryptocurrency exchanges has experienced a significant decline in April, coinciding with Bitcoin’s retreat from its all-time high.

Investors have grown more cautious ahead of the US Securities and Exchange Commission’s upcoming decision on the approval of an exchange-traded fund (ETF) linked directly to Bitcoin (BTC).

According to yesterday's report by cryptocurrency data provider CCData, Binance's spot market share has seen a notable decline, falling from 38.5% in August to 34.3% in September. This marks the seventh consecutive month of decreasing spot market share for the world's leading cryptocurrency exchange.

Major global cryptocurrency exchange Binance has reportedly continued to lose its market share amid ongoing regulatory issues in the United States.

Binance.US Chief Executive Officer Brian Shroder has left the crypto trading platform and been replaced on an interim basis by Chief Legal Officer Norman Reed, according to a company spokesperson.

stablecoin market while most cryptocurrencies are posting outsized gains this year. Traders use stablecoins to move money into and out of cryptocurrency markets, swap funds between exchanges and as a haven in times of high volatility. Often the market capitalization of the tokens increases during rallies and declines during downturns. So far this year, the total value of the crypto market has jumped around 50% to about $1.2 trillion, while the stablecoin sector has shrunk almost 8% to around a two-year low of $127 billion, according to researcher CCData. This discrepancy could have several explanations. Hoping for higher returns, investors may be rotating out stablecoins and into appreciating market leaders Bitcoin and Ether, according to Jacob Joseph, a research analyst at CCData. Stablecoins don’t pay interest and usually seek to maintain a one-to-one ratio with other assets such as the dollar, hence their name. Crypto advocates downplay the decline, with some citing the overall light trading volume in the wake of last year’s market collapse.

Bitcoin (BTC) could rally past $50,000 over the next year as the effect of the next halving kicks in, according to a Bloomberg Intelligence report.

Ethereum (ETH) has scaled heights more than Bitcoin (BTC) since they both hit2-year lows in June.