Binance’s market dominance wanes with regulatory woes and futures market shifts

2023-11-22 14:45

Quick Take

Binance, a dominant player in the cryptocurrency exchange market, has seen a notable downturn in its transaction volume over the past year.

In November 2022, the exchange handled approximately $500 billion in monthly volume. However, according to The Block, by November 2023, this number has fallen sharply to $230 billion. Regulatory pressures have intensified, with the Department of Justice imposing a multi-billion dollar fine, prompting Binance to employ a three-year monitor to oversee compliance.

This downward trend also extends to Asia-based volume, where Binance has seen its numbers halved, with competitors such as Upbit and OKX closing in.

Asia Based Customer Exchange Volume: (Source: The Block)

Furthermore, Binance’s share of the futures market has equally suffered a blow, with the Chicago Mercantile Exchange (CME) taking the lead. Binance currently holds 26% of the market share, marking its lowest point since December 2021.

Binance Futures Open Interest Dominance: (Source: Glassnode)

These developments suggest a further contraction in Binance’s market share, potentially exacerbated by the recent fines and compliance demands. This shift may have broader implications for the distribution of cryptocurrency transactions among major exchanges.

The post Binance’s market dominance wanes with regulatory woes and futures market shifts appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market volume binance exchange past year dominance

Источник: cryptoslate.com

market volume → Результатов: 126


Фото:

Bitcoin Price Analysis: New Low on Low Volume Breeds Potential Bullish Set-up

Bitcoin sits precariously perched at the bottom of the annual market low and many bitcoin investors aren’t sure what to make of it. Although the market seems to be continuing its drift to new lows with greater and greater ease, there are a couple of bullish signals worth considering while the market continues to consolidate: Figure 1: BTC-USD, Daily Candles, New Market LowOn Friday, June 29, 2018, for the first time this year, the daily candles closed below the annual low of $6,000s.

2018-7-1 19:35


Фото:

Bitcoin Futures ‘Too Small’ to Cause BTC Bear Market

Experts have suggested that the bitcoin futures price effect may be so negligible as to have had almost no impact on the recent BTC price slide. Speaking to Crypto Briefing, Mati Greenspan, a senior market analyst from eToro, explained that in comparison to the volume on prominent exchanges, the BTC futures market was not large enough to […] The post Bitcoin Futures ‘Too Small’ to Cause BTC Bear Market appeared first on Crypto Briefing.

2018-6-30 16:55


Фото:

Bitcoin in Brief: Exchanges Expanding, Brave Adds Tor, Tether ”Double Spent”

If you thought that only proof of work coins were susceptible to double spending attacks, you haven’t met tether. The world’s ninth largest crypto by market cap and second largest by volume is meant to be a haven in a sea of uncertainty, but even it’s not immune to jiggery-pokery, as we’ll learn in today’s […] The post Bitcoin in Brief: Exchanges Expanding, Brave Adds Tor, Tether ”Double Spent” appeared first on Bitcoin News.

2018-6-29 12:55


Биржа BTCC вновь начнет свою работу?

19 июня на криптовалютной бирже BTCC, которая прекратила свою работу в сентябре 2017 года, была замечена активность. Торговый объем в паре BTC/USD составил $58 млн. Такую “аномальную активность” в числе первых подметил создатель Dogecoin Джексон Палмер в своем Твиттере.

2018-6-24 07:30


CoinMarketCap зафиксировал торговый объем в $58 млн на закрытой бирже BTCC

19 июня аналитический ресурс CoinMarketCap зафиксировал торговый объем на сумму $58 млн в паре BTC/USD на нефункционирующей криптовалютной бирже BTCC. Одним из первых «аномалию» заметил основатель Dogecoin Джексон Палмер.

2018-6-23 01:04


BINANCE COIN [BNB] GAINS SKYROCKETS

While Binance is famous for being the largest cryptocurrency exchange platform by trading volume till date, it’s coins are not exactly making rounds in the Cryptocurrency market. However, in a remarkable turn of event, the path for the Binance coin BNB seems to be holding a little glimmer of hope this Sunday, which is rather […] The post BINANCE COIN [BNB] GAINS SKYROCKETS appeared first on ZyCrypto.

2018-6-18 10:34


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Genesis to Pay SEC $21M Penalty to Settle Charges Over Gemini Earn Product

The bankrupt crypto lender Genesis Global Capital has agreed to a final judgment ordering it to pay $21 million to settle charges with the U.S. Securities and Exchange Commission (SEC) for violating securities laws by offering and selling its now-defunct Gemini Earn program, the SEC announced Tuesday.

Next Bitcoin Crash? Insight On Genesis’ $1.5 Billion GBTC Sale

The crypto community has been abuzz with discussions surrounding Genesis’ intent to sell approximately 36 million shares of Grayscale Bitcoin Trust (GBTC), a move valued around $1.5 billion. This announcement stoked fears of a potential market downturn, reminiscent of the apprehensions following the FTX bankruptcy estate’s sale of over $1 billion worth of GBTC. However, a […]