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News

Binance Is Currently The ‘Hegemonic’ Player In Spot Trading, With 92% Of The Market Share

January 5, 2023 - Around 2 mins mins to read

Key Points:

  • Binance’s bitcoin trading volume market share has steadily increased, and it is expected to reach 92% by the end of 2022.
  • Binance has a 66.7% year-end crypto market share. Coinbase (COIN) ranks second with 8.2%.
Following the elimination of bitcoin transaction fees and the bankruptcy of the FTX exchange, investors are increasingly turning to Binance. According to Arcane Research research, the platform will dominate the bulk of Bitcoin spot trading volume by the end of 2022.
Binance Is Currently The 'Hegemonic' Player In Spot Trading, With 92% Of The Market Share

“Binance‘s bitcoin trading volume market share has been continuously increasing, reaching 92% by the end of 2022,” according to Arcane Research. The platform’s market share was only approximately 45% at the beginning of last year, but since the exchange decided to abolish bitcoin transaction costs in June 2022, not to mention the collapse of FTX in November, customers have gravitated to Binance.

According to Arcane Research, despite recent negative press, Binance remains the leading cryptocurrency exchange at the time. The platform has completely absorbed the whole market share in the spot market. This is still the largest cryptocurrency exchange by trading volume, and it has kept that position for some years. Binance’s ‘hegemony‘ is demonstrated by the data above.

Binance Is Currently The 'Hegemonic' Player In Spot Trading, With 92% Of The Market Share

According to CryptoCompare, The firm total year-end crypto market share is 66.7%. While Coinbase (COIN) comes in second with 8.2%, it is a very modest percentage when compared to Binance.

“In the near future, the trading volume of exchanges is likely to decline considerably,” said Edward Moya, senior analyst at Oanda. “The market will require a reasonably long period to recover.” “This is definitely the largest exchange right now in terms of volume…but it wouldn’t be healthy to have too much volume focused on any one exchange,” Moya added.

Many individuals were concerned that the exchange will follow in the footsteps of FTX. “Binance has a too large market share; everyone’s money is focused here, which might be a huge concern if the firm has any problems,” one investor observed. “The platform is the last stop, I can’t fathom it collapsing,” wrote another.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Chubbi

Coincu News

News

Binance Is Currently The ‘Hegemonic’ Player In Spot Trading, With 92% Of The Market Share

Key Points:

  • Binance’s bitcoin trading volume market share has steadily increased, and it is expected to reach 92% by the end of 2022.
  • Binance has a 66.7% year-end crypto market share. Coinbase (COIN) ranks second with 8.2%.
Following the elimination of bitcoin transaction fees and the bankruptcy of the FTX exchange, investors are increasingly turning to Binance. According to Arcane Research research, the platform will dominate the bulk of Bitcoin spot trading volume by the end of 2022.
Binance Is Currently The 'Hegemonic' Player In Spot Trading, With 92% Of The Market Share

“Binance‘s bitcoin trading volume market share has been continuously increasing, reaching 92% by the end of 2022,” according to Arcane Research. The platform’s market share was only approximately 45% at the beginning of last year, but since the exchange decided to abolish bitcoin transaction costs in June 2022, not to mention the collapse of FTX in November, customers have gravitated to Binance.

According to Arcane Research, despite recent negative press, Binance remains the leading cryptocurrency exchange at the time. The platform has completely absorbed the whole market share in the spot market. This is still the largest cryptocurrency exchange by trading volume, and it has kept that position for some years. Binance’s ‘hegemony‘ is demonstrated by the data above.

Binance Is Currently The 'Hegemonic' Player In Spot Trading, With 92% Of The Market Share

According to CryptoCompare, The firm total year-end crypto market share is 66.7%. While Coinbase (COIN) comes in second with 8.2%, it is a very modest percentage when compared to Binance.

“In the near future, the trading volume of exchanges is likely to decline considerably,” said Edward Moya, senior analyst at Oanda. “The market will require a reasonably long period to recover.” “This is definitely the largest exchange right now in terms of volume…but it wouldn’t be healthy to have too much volume focused on any one exchange,” Moya added.

Many individuals were concerned that the exchange will follow in the footsteps of FTX. “Binance has a too large market share; everyone’s money is focused here, which might be a huge concern if the firm has any problems,” one investor observed. “The platform is the last stop, I can’t fathom it collapsing,” wrote another.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Chubbi

Coincu News

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