bitcoin
Bitcoin (BTC) $ 61,910.59
ethereum
Ethereum (ETH) $ 3,415.82
tether
Tether (USDT) $ 0.999897
bnb
BNB (BNB) $ 410.96
usd-coin
USDC (USDC) $ 0.999348
xrp
XRP (XRP) $ 0.640293
binance-usd
BUSD (BUSD) $ 0.999659
dogecoin
Dogecoin (DOGE) $ 0.141478
cardano
Cardano (ADA) $ 0.741156
solana
Solana (SOL) $ 129.75
matic-network
Polygon (MATIC) $ 1.08
polkadot
Polkadot (DOT) $ 9.08
tron
TRON (TRX) $ 0.140754
bitcoin
Bitcoin (BTC) $ 61,910.59
ethereum
Ethereum (ETH) $ 3,415.82
tether
Tether (USDT) $ 0.999897
bnb
BNB (BNB) $ 410.96
usd-coin
USDC (USDC) $ 0.999348
xrp
XRP (XRP) $ 0.640293
binance-usd
BUSD (BUSD) $ 0.999659
dogecoin
Dogecoin (DOGE) $ 0.141478
cardano
Cardano (ADA) $ 0.741156
solana
Solana (SOL) $ 129.75
matic-network
Polygon (MATIC) $ 1.08
polkadot
Polkadot (DOT) $ 9.08
tron
TRON (TRX) $ 0.140754
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    Binance takes over 98% of all Bitcoin spot buying and selling quantity

    Latest News

    Binance is liable for nearly all Bitcoin (BTC) spot buying and selling — with over 98% of transactions passing via the centralized alternate between Feb. 18-19.

    Binance’s $6.8 billion greenback quantity dominates others available in the market — a pattern that has solely grown for the reason that collapse of FTX, in accordance with knowledge from Coinalyze.

    BTC/SPOT by exchange (Source: Coinanalyze)
    Binance dominates market share with 98% of BTC/SPOT buying and selling quantity (Supply: Coinanalyze)

    Binance has been gathering extra market share by growing its spot buying and selling of BTC — over 5% progress since Jan. 2023. Moreover, Binance’s market share for spot quantity has been constantly rising over the previous yr — which now quantities to nearly 100% of the market share.

    Bitcoin % share in spot trading volume
    Bitcoin % share in spot buying and selling quantity (supply: JA_Maartun on Twitter)

    Binance’s success in dominating the BTC buying and selling market could be attributed to its no-trading-fee coverage. Nevertheless, this additionally makes the alternate susceptible to bots that may benefit from the system. In distinction, exchanges like Coinbase cost charges of round $5-7 for transactions, making it much less prone to bots.

    When it comes to each day buying and selling quantity, Binance stays the clear chief in the complete spot buying and selling market, pushing over $21 billion, in accordance with CoinMarketCap. Coinbase is the one different alternate with over $1 billion in each day alternate, with a buying and selling quantity of $1.4 billion.

    See also  BTC Addresses With 1+ Cash Has Reached an ATH: On-Chain Knowledge

    The publish Binance takes over 98% of all Bitcoin spot buying and selling quantity appeared first on StarCrypto.

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