In its April 2019 Exchange Review, released on May 20, 2019, London-based crypto data analysis firm CryptoCompare found that fiat-to-crypto exchanges performed much better than crypto-to-crypto platforms did over the last month, as cryptocurrency prices rose across the board.
According to the report, fiat-to-crypto exchanges enjoyed an impressive 85 percent uptick in monthly trading volumes in April 2019. Bithumb, UPbit and Bitfinex were the highest performing of these, with volumes amounting to $17 billion, $8.7 billion and $6.7 billion, respectively.
It’s worth noting that Bitfinex was found to within the top-three of fiat-to-crypto exchanges, holding off strong competition from the likes of Kraken and Coinbase. The exchange is currently embroiled in a legal squabble with the Office of New York’s Attorney General, after it was accused of misappropriating funds from its Tether reserves as a means of covering up as much as $850 million in undocumented losses.
Meanwhile, crypto-to-crypto exchange volume increased by only 57…