Binance is the God of Derivative Exchange after Overtaking Okex and Huobi

News • 2020/10/12 • by

Binance is now the largest derivative exchange in the cryptocurrency world.

Binance had an exchange volume of $164.8 billion during September, according to the Cryptocompare report. CryptoCompare and Binance analyzed the volume of crypto trade on the exchange platforms was over $8 billion clear from the second on the list.

Credit: Cryptocomare

Major updates:

Monthly trade volume of the other three that followed Binance was $156.3B, $155.7B, and $56.4 for Huobi, Okex, and BitMex, respectively.
Bitmex seems to be facing big trouble because they recorded over 30.7% monthly downfall.
Top three exchanges on the list were in control of 90% derivative volume.

Other essential statistics from the report include: $27.6 billion worth of trade on September 3, making it yearly high. This beats the $27.1 previous yearly high of July 27. The number of institutional options on the controlled CME platform rose by 79.4% from August 's estimates to a monthly volume of 4,872 contracts traded.

CryptoCompare announced that CME Bitcoin ( BTC) futures contract volumes remained stable, only declining by 1% opposed to 203,867 transactions conducted in August.

Do you think Binance can keep up the pace as the No 1 exchange platform? Let us know in the comment below.

Source: Cointelegraph.

Comments (6)

Guest

godgrace1

6 years ago

I think they can, because their number of users keep increasing on a daily basis and they offer a lot of offers in countries that the other exchanges have not yet approved in their platform yet.

chomlee

6 years ago

Yes they certainly can, they are more recognized by crypto traders, which is a plus to them

freshprinx

6 years ago

strategies, hardworking, consistences, innovative, and good customer relationship helps them to achieve that among others.

visiblemoney

6 years ago

In my views, Binance already have a road map design to remain the top crypto exchange for inestimable period of time! They got the their strategy right by creating topmost community based presence which cuts across nationality and borders where they were not only just giving internet platform for trading but rights to be home-grown by locality lending support. And in addition, the most pivotal instrument of market penatration adopted for value chain has been the offering of varieties, acquisition partnership and creation of Binance Academy which serves as the great influencer! The work in Binance is extensive and developing beyond the scrope of mere crypto trading as they are planning to diversifying into owning their own bank to implement stronger financial objectives.

exodusab

6 years ago

Huobi, OKEx and Binance accounted for about 90% of September’s derivatives volume between them, even as volumes eased month on month by 17.5% to $634.9 billion this is bravo.

lilianchiamaka

6 years ago

My answer is NO because been the world's largest online crypto currency exchange by trading volume doesn't give the platform the right to continue being the No1 exchange platform, one day our great Remitano Exchange will take over the position