February 27, 2024

Bitin's share in Binance's turnover drops sharply

In February, the share of bitcoin in the trading volume of the popular exchange Binance decreased from 40% to 27.26%.This is stated in theThe latest report from the research division of the company.

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The diagram below shows that the aforementioned indicator in February dropped to June marks:

Bitin's share in Binance's turnover drops sharply

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Apparently, this is due to improvementsituations with altcoins. Among the last ones last month, Ethereum showed the best dynamics, the price of which increased by 23.3%, and the trading volume increased by 176.4%. XRP and BNB also enjoyed significant popularity on Binance.

Bitin's share in Binance's turnover drops sharply

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According to CoinMarketCap, the current Bitcoin dominance index is 63.5%.

In the Bitwise rating, which includes exchanges with a more or less reliable indicator of trading volume, Binance has always come first:

Bitin's share in Binance's turnover drops sharply

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However, note different services in different waysdisplay ratings of popular exchanges. For example, at the time of writing, Coinranking shows that the largest daily trading volume is with the little-known BitOffer exchange:

Bitin's share in Binance's turnover drops sharply

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...CoinPaprika shows that on Bkex:

Bitin's share in Binance's turnover drops sharply

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... CoinMarketCap - what's on BitZ:

Bitin's share in Binance's turnover drops sharply

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At the same time, CoinGecko produces similar results to Bitwise, where Binance also comes first:

Bitin's share in Binance's turnover drops sharply

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Thus, despite CoinMarketCap's promises to do away with fake exchange data, other, slightly less well-known services have made significant progress in solving this problem.

Recall that last month ForkLog and CoinGecko entered into a partnership to develop the international market for digital currencies and blockchain technology.