In April, the cumulative spot trading volume on centralized crypto exchanges experienced its first month-to-month decline in seven months, dropping to $1.6 trillion from nearly $2.5 trillion in March. This decline coincided with a $10,000, or 15%, drop in the price of bitcoin during the month. Despite the decrease, Binance remained the top exchange with $700 billion in spot trading volume. This trend was also noted by analytics firms like CCData, which observed declines in spot volume for the first time in seven months.