Nansen analysts state that despite the fact that the collapse of the FTX exchange led to an overall drop in trading volumes in the cryptoasset market, the Kraken and Bybit platforms showed an increase in commission income from spot trading, and Bitget increased income from derivatives trading.
Average monthly trading volume on Kraken rose 14.4% to $18.9 billion and Bybit up 7.65% to $18.2 billion. In terms of derivatives trading, Bitget’s monthly average volumes for the six months following the FTX crash . grew by 4.85% to $204 billion.
Nansen experts note that an important role in maintaining user confidence in cryptocurrency platforms could be played by the open publication of data on Proof of Reserves (PoR) reserve assets, the reliability of which was confirmed by an independent audit.
With regard to the Binance exchange, it is said that the cryptocurrency giant has maintained relatively stable trading volumes after the fall of FTX, with monthly revenue of about $428 billion.
Analyst firm Nansen previously reported that the U.S. Securities and Exchange Commission (SEC) lawsuit against the Coinbase and Binance exchanges resulted in an outflow of user funds from these platforms in the amount of about $ 4 billion.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
