The 24-hour cryptocurrency trading volume experienced a decline as 2023 progressed, with figures significantly lower than in 2022. This downward trend followed lawsuits against Binance—one of the world’s largest crypto exchanges—in the United States. Analysts noted a quieter market after April, attributing the slump to a lack of a "strong overarching narrative." This contrasts sharply with 2021 and 2022, when digital currencies dominated headlines and attracted widespread investment.
Bitcoin’s Trade Volume in 2023
Bitcoin’s trading volume slowed in Q2 2023 after notable growth earlier in the year. Despite this, Bitcoin outperformed most of the market, partly due to BlackRock’s June 2023 announcement of filing for a Bitcoin ETF. The proposed iShares Bitcoin Trust planned to use Coinbase Custody as its custodian. However, U.S. regulators had not yet approved any spot Bitcoin ETF applications.
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Ethereum Staking Changes in 2023
Ethereum’s trading volume shifted in 2023 with the Shapella upgrade (Shanghai and Cappella), enabling investors to withdraw staked Ethereum. Staking resembles a bank deposit, where funds are locked to earn interest over time. Lido dominated as Ethereum’s largest staking pool, surpassing major exchanges like Coinbase and Kraken. As of May 2025, the 24-hour trading volume stands at a notable figure (exact data requires Statista access).
Cryptocurrency 24h Trade Volume (2020–2025)
| Date Range | 24h Trading Volume (in billion USD) |
|--------------------------|-------------------------------------|
| July 1, 2020 – Dec 31, 2020 | Data available via Statista |
| Jan 1, 2021 – Dec 31, 2021 | Data available via Statista |
| Jan 1, 2022 – Dec 31, 2022 | Data available via Statista |
| Jan 1, 2023 – May 26, 2025 | Data available via Statista |
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FAQ Section
1. Why did crypto trading volume decline in 2023?
The drop was influenced by regulatory actions (e.g., Binance lawsuits) and a lack of market-driving narratives compared to previous bull runs.
2. What impact did the Shapella upgrade have on Ethereum?
It allowed staked ETH withdrawals, increasing liquidity and altering trading volume dynamics.
3. How does staking work in cryptocurrency?
Staking involves locking crypto assets in a network to support operations (e.g., validation) and earn rewards, similar to interest.
4. Is a Bitcoin ETF available yet?
As of 2023, no spot Bitcoin ETF had been approved by U.S. regulators, though filings (like BlackRock’s) were pending.
5. Where can I access full crypto trading volume statistics?
Premium datasets are available via Statista’s paid plans, starting at $199/month.
Accessing Detailed Data
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- Starter Account: $199/month (includes premium stats).
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