The main theme of the report is the analysis of key changes in the cryptocurrency exchange market.
The report examines trading volumes, including crypto derivatives trading, market segmentation by exchange fee models, and crypto-to-crypto versus fiat-to-crypto volumes. It analyzes Bitcoin trading in various fiats and stablecoins. An overview of the rankings of leading crypto exchanges by spot trading volume and the historical development of volumes for leading exchanges with transactional fees and decentralized exchanges is presented.