Binance Becomes Largest Bitcoin Derivatives Exchange

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CryptoCompare published the cryptocurrency exchanges report for last September. According to the announced data, Binance was again the first in September 2020. Huobi and OKEx followed Binance, the largest Bitcoin derivatives exchange.

Cryptocurrency transaction volumes declined by 17.5% in September to $ 634.9 billion, according to the data released in the September cryptocurrency exchange report published by CryptoCompare. Spot trading volumes, on the other hand, declined at the same rate last month to $ 676.6 billion.

The market share of exchanges that receive commission from users increased compared to August. These exchanges made up 84.4% of the total transaction volume. On the other hand, the volume provided by the exchanges that make their profits with the TFM model fell below 16%.

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While there was a decrease in all stock markets except FTX in general, FTX increased by more than 73%. According to the report, the stock market volume ranking is listed as follows:

  • Binance – $ 113.3 billion
  • Huobi Global – $ 60.75 billion
  • OKEx – $ 55.4 billion
  • Coinbase – $ 13.6 billion
  • Kraken – $ 7.43 billion
  • Liquid – $ 6.36 billion
  • FTX – $ 3.88 billion

CryptoCompare-Binance-Eylul-Raporu

Binance, OKEx and Huobi Global led the way in terms of daily trading volume in September as well as rates to other cryptocurrency exchanges.

CryptoCompare-Binance-Eylul-Raporu

Binance Open Break Winner

According to CryptoCompare’s September 2020 review, Binance has managed to become the world’s largest cryptocurrency platform this month as well in terms of transaction volume. Over the past year, Binance users have seen $ 164.8 billion in activity.

Although Binance was down more than 10% compared to August, it did not lose the first place. The serious decline of other crypto currency exchanges was also effective in this. This month compared to August; Huobi dropped about 25% and OKEx declined 18%.

See Also
Binance CEO Changpeng Zhao : The main cause of the collapse in Bitcoin was not coronavirus

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