According to a study by The Block, Binance's market share is growing among the Bitwise Real 10 exchanges. Bitfinex has this the indicator continues to fall.
Compared to June, which is successful for the cryptocurrency market, the total trading volumes on exchanges are declining. However, the market shares of various exchanges are constantly changing.
For example, in March, Binance accounted for 70%real trading volumes in the market. By July, this figure dropped to 53%, but over the past few months it has almost recovered to its previous level, reaching 67%.
According to researchers, recoveryBinance's popularity took place against the backdrop of large-scale launches of new products and options - margin trading (July), landing (August), futures (September) and OTC-supporting platforms (September).
The Block analysts emphasize that at leastperhaps these products did not directly affect spot trading, they nevertheless had a beneficial effect on the entire ecosystem due to the network effect.
Bitfinex is losing ground and Poloniex is getting up off its knees
At the beginning of the year, the share of the Bitfinex exchange was about 18%, but gradually this figure dropped to single digits.
“When market activity fades, volumes do get low. However, as soon as there is a jump in prices, our volumes become higher than the vast majority of other exchanges ”, Said Paolo Ardoino, Bitfinex Technical Director.
As for the once-popular Poloniex, for most of the year its market share was about 1%.
After announcing a separation from Circle, the exchange temporarily set up zero trading fees. This brought some benefits - Poloniex's market share exceeded 2%.
Recall, recently the founder of the TRON blockchain platform Justin Sun confirmed the purchase of a stake in Poloniex.
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