Binance Ends March Capturing 30% of Crypto Spot Trading Market
- Monthly activities on the exchange jumped by 15.7 percent.
- Crypto derivatives trading demand jumped after six months.
The crypto exchange, Binance has ended March, handling 30.2 percent of the total spot trading volume, according to a CryptoCompare report. The exchange witnessed a 15.7 percent monthly surge in the demand for its crypto spot trading services as total trading volume touched $490 billion.
Binance has long maintained its position as the largest global cryptocurrency exchange
Cryptocurrency Exchange
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f
Read this Term in terms of trading volume. At its peak in November 2021, the exchange captured 33.7 percent of the total crypto spot trading market.
In addition, the report outlined that the spot trading volume on the top 15 cryptocurrency exchanges jumped by 4.23 percent in March when compared to the figures of the previous month.
While Binance saw a jump in the demand for its services, two of its key rivals, Coinbase and OKX, witnessed a drop of 11.7 percent and 26.4 percent, respectively, in crypto spot trading volume activities.
Derivatives Demand Rebounds
Meanwhile, the crypto derivatives market jumped by 4.58 percent last month. Trading activities with derivatives instruments showed positive growth after six months to reach $2.74 trillion in March. But, it still remains significantly lower than the peak of $9.99 trillion in May 2021.
CME Group, the American exchange that offers crypto derivatives to institutions, reported monthly futures volume across Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term and Ether markets totaling $48.7 billion, which was a marginal increase of 0.18 percent from the previous month. Demand for Bitcoin instruments dominated capturing 79.8 percent of the total, while the rest was for Ether instruments.
Moreover, derivatives trading volume captured 62.8 percent of all centralized crypto trading in March, which is higher than the spot market’s 37.2 percent share. “This was a welcomed increase in activity in derivatives markets, which had previously seen six straight months of decreased volumes,” the report stated.
Activities in both crypto spot and derivatives trading jumped last month as the price of Bitcoin and Ethereum closed the month with a price increase of 5.4 percent and 12.4 percent, respectively. However, the prices of both the cryptocurrencies have dropped since and are trading at $38,700 and $2,850, respectively, as of press time.
The crypto exchange, Binance has ended March, handling 30.2 percent of the total spot trading volume, according to a CryptoCompare report. The exchange witnessed a 15.7 percent monthly surge in the demand for its crypto spot trading services as total trading volume touched $490 billion.
Binance has long maintained its position as the largest global cryptocurrency exchange
Cryptocurrency Exchange
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f
Read this Term in terms of trading volume. At its peak in November 2021, the exchange captured 33.7 percent of the total crypto spot trading market.
In addition, the report outlined that the spot trading volume on the top 15 cryptocurrency exchanges jumped by 4.23 percent in March when compared to the figures of the previous month.
While Binance saw a jump in the demand for its services, two of its key rivals, Coinbase and OKX, witnessed a drop of 11.7 percent and 26.4 percent, respectively, in crypto spot trading volume activities.
Derivatives Demand Rebounds
Meanwhile, the crypto derivatives market jumped by 4.58 percent last month. Trading activities with derivatives instruments showed positive growth after six months to reach $2.74 trillion in March. But, it still remains significantly lower than the peak of $9.99 trillion in May 2021.
CME Group, the American exchange that offers crypto derivatives to institutions, reported monthly futures volume across Bitcoin
Bitcoin
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term and Ether markets totaling $48.7 billion, which was a marginal increase of 0.18 percent from the previous month. Demand for Bitcoin instruments dominated capturing 79.8 percent of the total, while the rest was for Ether instruments.
Moreover, derivatives trading volume captured 62.8 percent of all centralized crypto trading in March, which is higher than the spot market’s 37.2 percent share. “This was a welcomed increase in activity in derivatives markets, which had previously seen six straight months of decreased volumes,” the report stated.
Activities in both crypto spot and derivatives trading jumped last month as the price of Bitcoin and Ethereum closed the month with a price increase of 5.4 percent and 12.4 percent, respectively. However, the prices of both the cryptocurrencies have dropped since and are trading at $38,700 and $2,850, respectively, as of press time.