Over the past 24 hours, it was on the Binance platform that 55% of the total volume of transactions in the spot market was made.
According to The Block Research, the rest of the trading platforms occupy an insignificant market share and only three of them recorded a trading volume of more than 5% of the total. We are talking about Upbit (6.1%), OKX (5.4%) and Coinbase (5.3%).
A similar situation has developed in the cryptocurrency derivatives market: Binance has processed 54.4% of transactions by volume over the past day. Among the other sites, the shares were distributed as follows: 14.1% of the volume of transactions was made on the OKX platform, 10.2% on Bybit, and 8.8% on FTX.
Analysts at The Block Research also noted the growing share of Binance USD stablecoin in total trading volume.
Earlier it was reported that cryptocurrency exchanges often fake trading volume upwards. Forbes analysts considered that the American division of the Binance exchange honestly reports on the trading volume, and the global platform tends to fake up to 45% of the figure.
Source: Bits
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