Binance is Bucking the Trend Amounting to Over 50% of Total Trade Volume


Though Bitcoin price has been in a downward shift throughout the last year, the prices went severally low in the past few months only along with trading volume. The volatility also took a back seat in recent months.

Bitcoin Trading Volume Hits New Lows But Higher Than 2017

It is no surprise that the bitcoin trading volume across all exchanges has come to a record low. During the month of January and February this year, Bitcoin traded volume saw a massive drop of 55 percent in comparison to the same period in 2018.

However, as Diar reported in its latest research, the total traded volume in terms of Bitcoin still remains higher than that of 2017. Overall, the demand in 2018 rose 45 percent versus 2017. In the last three quarters of 2018, the demand somewhat stabilized.

“Still, total Bitcoins traded already stands at more in the first two months of this year than that seen in all of 1Q 17.”

Market Share Across Major Exchanges Continues To Drop

The trading volume on major exchanges has thus hit new trading lows in dollar terms, especially Coinbase. For the first time, in the last two years, Coinbase saw its bitcoin trading volume fall below $1 billion last month that in part could be due to a short month.

Another sharp strike against Coinbase has been the drop in its market share from an average of 24 percent in 2017 to half of this in 2018, against major exchanges.

“With Bitcoin's volatility down 82% versus the start of 2018, it's unlikely that trading activity will gain much speed bringing back the sunshine exchanges basked in last year.”

Binance hasn't fared much better either as its BTC/USDT volume dropped down as well. However, the biggest cryptocurrency exchange by market cap, Binance is actually seeing the growth while market shares across major exchanges continue to drop.

Binance has captured a sizeable share of the market against major crypto exchanges amounting to more than 50 percent. Three straight months in a row, Binance is seeing its market share grow while others like Kraken, Coinbase, and Gemini plateau. The market share of Bitfinex continues to slide as well after the Tether-related controversy. From the 60 percent share it once controlled, now, Bitfinex maintains over 20 percent of traded volume on majors only.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide