Gemini’s third-quarter trading rebound masked a deepening retail slump.
Crypto exchange Gemini has just reported its lowest quarterly retail trading volume in three years, despite an increase in overall crypto trading volume.
Total spot trading volume rose 18% from the second quarter to $4.5 billion, according to Gemini’s Q3 earnings report. Institutional volume climbed 26% to $3.9 billion, while retail volume fell 14% to $600 million, its lowest level since the third quarter of 2023.&
Gemini said the quarterly increase in spot trading volume was “supported by increased institutional Zcash activity and expanded affiliated market-making,” but did not give a specific reason for the decline in retail trading.&
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