Crypto exchange volumes continue to fall, according to The Block's Data Dashboard.
Drawn from The Block Research's Legitimate Volume Index, May saw exchanges post $307.4 billion in volume — a decline of 23.2% from April.
Exchange volumes have slid in recent months, with May's numbers continuing that trajectory.
According to The Block Research director Lars Hoffmann, the May figure represents the lowest level since November 2020.
Binance claimed a 71% market share for May, followed by Coinbase and BTSE at 8.7% and 5.1%, respectively.