[Spot Trading Volume on Centralized Crypto Exchanges Drops to Lowest Level Since October 2023 in April] According to CryptoBriefing, CryptoQuant data shows that the spot trading volume on centralized cryptocurrency exchanges (CEX) in April fell to $679 billion, marking the lowest monthly level since October 2023. This figure represents a year-on-year decline of 46% and a drop of approximately 67% from the peak in October 2025. Perpetual futures trading volume has also decreased by 53% from its October 2025 high. The continued shrinkage in spot trading volume reflects waning retail interest. Large exchanges can hedge the impact through businesses such as derivatives, custody, and staking, but smaller exchanges are more vulnerable to the downturn. Liquidity is increasingly concentrating on leading platforms such as Binance, OKX, Coinbase, Kraken, and Bybit.