The Block Research: Binance Captures More Than Half of the Spot Trading and Crypto Derivatives Market

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Over the past 24 hours, 55% transactions were made on the Binance platform. total volume of transactions on the spot market.

According to The Block Research, the resttrading platforms occupy a small 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 marketCryptocurrency derivatives: Binance processed 54.4% of trades by volume over the past 24 hours. Among other platforms, the shares were distributed as follows: 14.1% of the transaction volume was completed on the OKX platform, 10.2% on Bybit, and 8.8% on FTX.

Analysts at The Block Research also noted the growing share of the Binance USD stablecoin in total trading volume.

It was previously reported that cryptocurrency exchangestrading volume is often faked to increase it. Forbes analysts calculated that the American division of the Binance exchange honestly reports on trading volume, and the global platform tends to fake up to 45% of the figure.