People involved in the industry say trading activity outside of exchanges, on over-the-counter markets, where larger institutional investors tend to trade, has held up far better. Major exchanges with drops of more than half in daily traded volumes between December and March include Bitfinex, San Fransisco-based Coinbase, Luxembourg-based Bitstamp and Poloniex, which was recently bought by Goldman Sachs-backed cryptocurrency start-up Circle. A person close to Bitstamp said volumes were directly related to overall interest in cryptocurrencies, but that the exchange had maintained its market share between December and April. The other exchanges did not respond to requests for comment.

https://www.reuters.com/article/us-crypto-currencies-exchanges/crypto-trading-tumbles-as-investment-scramble-unwinds-idUSKBN1HR1PJ