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Bitcoin Trade Volume on Coinbase Hit a 14-Month High in May
Coinbase recorded its most bitcoin trade volume in 14-months during May when over 739,000 bitcoins traded hands.
By Sam Ouimet
Updated May 2, 2022, 3:53 p.m. Published Jun 7, 2019, 8:00 p.m.
Bitcoin trading volume on the largest US-based cryptocurrency exchange, Coinbase, hit the highest amount seen in 14 months in May.
During the month of May, Coinbase facilitated the trade of 738,959.42 BTC -- worth approximately $5.9 billion at current market prices -- according to data from Bitcoinity.
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This development marks the exchange’s highest level of bitcoin trade volume since March of 2018. Additionally, it also represents the sixth-most voluminous month for bitcoin trading on the exchange to date. Perhaps not surprisingly, the rise in volume was accompanied by a 60 percent price increase for the cryptocurrency itself.
Bitcoin Trade Volume on Coinbase (Monthly)
The most bitcoin ever traded in a month on Coinbase was December of 2017, when the cryptocurrency's reached as high as $19,891 and 1,275,295.522 BTC traded hands on the exchange.
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Now with the price of bitcoin trading roughly 60 percent lower than its all-time high at the time of writing, the total units traded in May coincidentally make up nearly 60 percent of the amount seen during the explosive trading month of December 2017.
Disclosure: The author holds several cryptocurrencies. Please see his author bio for more information.
Coinbase image via Shutterstock
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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