Trading volume has been an important metric to gauge the amount of market activity in 2021.
May was a turbulent month for the ecosystem as both buying and selling volumes were taking over the industry.
One of the reasons being its heavy altcoin list with USDT pairs, but it took a noticeable leap over Bitcoin and Ethereum in 2021.
On Coinbase, the spread coverage by Ethereum was more dominant than on Binance, where BTC, ETH volumes were almost neck and neck.
Finally, the CME was the only platform where Bitcoin outperformed Ethereum in terms of Future volumes, a finding that meant that institutional investors were still favoring Bitcoin over Ethereum.
Now, there are a few things that can be inferred from the aforementioned trading volume differences on multiple exchanges, with respect to multiple coins.
Hence, it can be speculated that there is a higher chance that altcoin trading concentrated only on one platform might have been prey to some form of wash trading over time.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.