🇷🇺Turgenev’s Tale: Crypto Markets’ Descent Amidst Trump’s Tariff Tantrums 🤡

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Behold, the Chronicles of February’s Cryptic Decline:

  • In the land of centralized exchanges, trading volumes wilted like autumn leaves, plunging 21% to a meagre $7.2 trillion.
  • The mighty CME, a colossus amongst institutions, faced its first downturn in five moons, yet its dominion reached new heights.
  • Open interest, akin to a wilting flower, sank to its lowest ebb since the days of yore.

Amidst the tempestuous whispers of President Donald Trump’s tariff threats, a dark cloud loomed over the crypto realm, casting a shadow upon investor ardour. The spectre of stifled international trade, much like a ghostly presence, haunted the brave souls who dared to venture into the perilous waters of risky investments.

As the CoinDesk Data’s Exchange Review unfolded, the tale of the crypto markets’ descent became all too clear. The combined spot and derivatives trading volume on centralized exchanges, once a proud beacon, now stood at a paltry $7.2 trillion, its lowest since the autumn of yesteryear.

Alas, the Trump administration’s relentless pursuit of vengeance against perceived trade adversaries, from the Great Wall of China to the verdant fields of the European Union, sent shivers down the spines of traders far and wide.

In this tumultuous landscape, Binance reigned supreme, clutching onto its throne as the paramount spot trading platform with a commanding 27% market share. Yet, even its might was not immune to the winds of change, as Crypto.com (8.1%), Bybit (7.4%), Coinbase (COIN), and MEXC Global vied for a place at the table.

Derivatives trading, too, felt the sting of misfortune, as the CME, a bastion of institutional might, witnessed its first trading volume dip in half a decade. The once-mighty CME, now humbled, saw its trading volume plummet 20% to a mere $229 billion, with bitcoin futures and ether futures following suit.

Yet, amidst the chaos, a silver lining emerged. While the BTC CME annualized basis fell to its lowest ebb since the dawn of 2023, the CME’s market share soared to an unprecedented 4.67%, a testament to the enduring interest of the institutional elite.

Meanwhile, the total open interest across all trading pairs on centralized exchanges, much like a wounded beast, stumbled and fell 30% to a paltry $78.8 billion, marking its nadir since the fifth day of November. This dire fate, dear reader, reflects the merciless liquidations that plagued the recent downturn, leaving many a trader to ponder the whims of fortune.

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2025-03-13 16:04