您现在的位置是:Binance Surpasses All Others As Leading Derivatives Exchange >>正文
Binance Surpasses All Others As Leading Derivatives Exchange
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛68人已围观
简介Binance surpasses Huobi and OKEx to become the largest cryptocurrency derivatives exchange globally ...
Binance surpasses Huobi and OKEx to become the largest cryptocurrency derivatives exchange globally by trading volume
Binance is now the leading cryptocurrency derivatives exchange after overtaking the likes of Huobi and OKEx. Binance’s latest achievement was revealed in a report published recently by UK-based data firm CryptoCompare.
According to the report, Binance became the largest derivative exchange by volume last month after recording $164.8bn in trading volume. Binance led the way despite its volume dropping by 10.7% since August. Binance is followed by Huobi ($156.3bn and down 25.8%), OKEx ($155.7bn and down 18.5%) and BitMEX ($56.4bn and down 30.7%) respectively for September.
Huobi, Binance and OKEx accounted for 90% of derivatives volume last week. However, the overall monthly trading volume declined by 17.5% in September, compared to what was recorded in August. The decline wasn’t restricted to the derivatives market as CryptoCompare added that the spots trading market also experienced a 17.5% decline to $676.6bn last month.
Despite the decline in monthly trading volume, daily volumes on derivatives exchanges set a new yearly high on September 3. The report stated that “Although monthly Top-Tier exchange volume has seen a decrease since August, daily volumes reached a record for the year on September 3, 2020, where $27.6bn was traded. The previous high for the year was $27.1bn on July 27, 2020.”
Decentralised cryptocurrency exchanges are gaining traction
The CryptoCompare report also looked at the performances of centralised exchanges (CEX) and decentralised exchanges (DEX). According to the report, 46.2% of users traded on DEXs because of these platforms’ anonymity. The rise of the decentralised finance (DeFi) ecosystem has seen an increasing number of people converting to DEXs. As a result, decentralised exchanges are gaining a greater market share of traded volume in the cryptocurrency space.
The statistics posted by CryptoCompare shows that in addition to anonymity, the other DEX features that attract traders include: self-custody, yield farming, transparency of market structure and no third-party operator.
However, most cryptocurrency traders still use centralised exchanges due to their higher liquidity and fiat compatibility. Although decentralised exchanges are growing, they still don’t offer the level of liquidity that centralised exchanges like Binance, Coinbase and Huobi offer.
Due to the massive liquidity of centralised exchanges, the operators believe they hold a substantial competitive advantage over DEX. Some of the operators believe that decentralised exchanges are unlikely to overtake centralised exchanges in terms of liquidity in the next two years.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/282564.html
相关文章
The MRST token is now available for purchase on OKX
Binance Surpasses All Others As Leading Derivatives ExchangeThe Mars Token is now live exclusively on the OKX cryptocurrency exchange, allowing investors to gai...
阅读更多
Ethereum (ETH) Could Lead to A Fresh All
Binance Surpasses All Others As Leading Derivatives ExchangeEthereum (ETH) reached almost $2,400 (according to CoinGecko’s data) a few days ago, mainly ha...
阅读更多
Bitcoin (BTC/USD) new lower price target set by analysts
Binance Surpasses All Others As Leading Derivatives ExchangeWhat next afterBitcoin(BTC/USD) broke below its long-term psychological level at $19,000? According...
阅读更多
热门文章
- Total value locked in DeFi protocols drops nearly $1 billion
- Chainlink hits yearly high, Near Protocol rises silently, Pullix (PLX) gathers steam in presale
- Consensys Announces Mobile App for Ethereum Wallet MetaMask
- Weekly Roundup of Cryptocurrency News 14/05/2021
- Digital Currency Not On The Cards For New Zealand Right Now
- XLM is up by 2% as Stellar Development Foundation invests in Wave
最新文章
Weekly Roundup of Cryptocurrency News 16/04/2021
How long can Bitcoin (BTC/USD) bear market last? Crypto billionaire Novogratz shares thoughts
Best 3 Ethereum
Bitget lists Base Seamless (SEAM) tokens in its Launchpool
Institutional traders favour Bitcoin and Ethereum while whales eye this new AI crypto
Chainlink hits yearly high, Near Protocol rises silently, Pullix (PLX) gathers steam in presale