In the previous 24 hours, Binance accounted for more than 55 percent of the spot cryptocurrency market.
It is easy to forget that Binance leads both spot and futures trading volume in the centralised cryptocurrency exchange industry since its rivals are nowhere near catching up.
In the last twenty-four hours, Binance accounted for slightly more than 55 percent of the total spot trading on cryptocurrency exchanges monitored by The Block Research. Only three cryptocurrency exchanges accounted for more than 5% of the market: Upbit (6.1%), OKX (5.4%), and Coinbase (5.3%).
Binance’s U.S. exchange also outperformed FTX.US, earning 1.4% of the total volume compared to 0.6% for FTX.US.
Binance controls more than fifty percent of the spot cryptocurrency market. When it comes to crypto futures trading, nothing has changed — at least as far as Binance is concerned, since the exchange accounted for 54.4% of the entire volume during the last 24 hours.
On the derivatives front, the difference is due to Binance’s rivals grabbing greater portions of the pie. Bybit owns the third-highest derivatives volume at 10.2%, while OKX maintains the second-highest derivatives volume at little more than 14%. Meanwhile, FTX has 8.8%.
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