CryptoCompare's latest monthly report shows that Binance captured nearly one-third of the total amount traded on crypto spot platforms in March 2022.
CryptoCompare’s latest monthly report shows that Binance captured nearly one-third of the total amount traded on crypto spot platforms in March 2022.
The document further revealed that approximately 69.9% of the total volume was accumulated by 15 of the world’s largest crypto exchanges, including Binance, Coinbase, Bitfinex, OKX, Huobi, FTX, and Kraken.30.2% of the total spot market volumes, processing about $490 billion in spot transactions, a 15% increase from February volumes. While this figure is marginally below the exchange’s record market share of 33.7% in November 2021, Binance still managed to dominate the crypto spot market.
Despite being impressive for the six months of decreased activity, the March derivatives market volumes are still significantly lower than the all-time highs reached in May 2021. Derivatives volumes reached a whopping $9.99 trillion during the May 2021 bull market, attaining a market share of 68%. “Market participants remain cautious and continue to get crypto exposure through derivatives to hedge and speculate against spot markets.”
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