Binance Becomes Largest Crypto Derivatives Exchange
Grey82/Shutterstock.com
Main page News, Cryptocurrency Exchanges, Binance

Binance became in September the largest crypto derivatives exchange with a trading volume of $164.8B, according to data provided by CryptoCompare.

The derivatives trading volume at Huobi and OKEx, which ranked second and third last month, amounted to $156.3B and $155.7B respectively. BitMEX, in fourth place, hit a trading volume of $56.4B.

CryptoCompare data shows BitMEX had lost ground in the market even before the US Department of Justice and the Commodity Futures Trading Commission (CFTC) filed charges against the platform and its executive team on October 1. September has become the worst month for BitMEX with a relative decrease of 30.7% in its trading volume.

Huobi, OKEx and Binance have monopolized around 90% of the derivatives operations, while the total trading volume experienced a 17.5% fall to $634.9B. The only platform with trading increase in September is FTX, whose trading volume grew by 12% to $23.89B.

The daily trading volume of crypto derivatives hit its highest level of the year on September, 3 after growing to $27.6B. The previous record was registered on July 27 at around $27.1B

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error
Close