New Cryptocurrency Exchange Volume Chart Shows Ousts Binance for Top Activity Spot

In a recent report released by CryptoCompare, Huobi, Binance, and Bitfinex have experienced a month-on-month drop in volume. Due to the fact that Binance lost around 15% of its trading volume in the last three months, it lost the first position as the largest exchange in terms of trading volume.

The January Exchange Review released by CryptoCompare analyses exchange volumes and also makes a review of the highest volume producing jurisdictions as well. The company makes also a comparison between BitMEX and BitFlyerFX and the Cboe and the CME.

Another virtual currency exchange, was able to take Binance’s position in the space. Although in November and December Binance performed better than this controversial exchange, January was not a good month for Binance, OKEx, and Bitfinex.

Huobi Pro has fallen under $10 billion in trading volume for the first time since CryptoCompare releases these analyses. In December it handled around $12 billion but it dropped down to $5.6 billion. Meanwhile, Bitfinex dropped even further from $12 billion in November it reached around $4 billion during January. has been criticized for the trading volume it had and how the exchange could be manipulating these volumes. As the report shows, there was a day in which QTUM’s volume spiked to 120 million USDT.

According to CryptoGlobe, fiat trading exchanges experienced a larger decrease during January (26.5%) compared to crypto-to-crypto exchanges that fell just 7.2%.

There are several stablecoins in the market. Tether (USDT) is the most popular and largest one. Other coins are Gemini USD (GUSD), Circle’s USD Coin (USDC), Paxos Standard (PAX) or TrueUSD (TUSD).

At the moment, Tether has around 97.6% of the stablecoin-crypto trading market. However, PAX seems to be growing as well. In January PAX held 2% of the trading volume while USDC 0.5%.

Exchanges located in Malta registered the majority of the trading volume, followed by those registered in Hong Kong and also in Samoa. However, monthly trading volume for those exchanges registered in Malta dropped 17%. Trading volumes related to Hong Kong exchanges dropped 5.5% while Samoa.registered platforms increased their volume 9%.

CryptoCompare shows that total exchange web traffic continues its downward trend, similar to what spot volumes are experiencing. In January web traffic fell 13.5% and spot volumes dropped 12.4%.

This data shows that the market was in a bear trend but it could eventually change in the near future. Bitcoin and other digital assets started to grow once again and some virtual currencies such as Litecoin (LTC) have grown more than 100% since their lowest price in the last few months. If the market starts growing once again, it might be possible for volumes to follow the same positive trend.

Get Free Email Updates!

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

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Coinbase and Circle Consortium's USDC Stablecoin is Now Integrated on Solana Blockchain

The Center announced today Solana blockchain as an official Chain for its USDC stablecoin. As an expansion of the “fully-reserved and regulated digital dollar stablecoin,”...

Ethereum Classic & IOHK Team Up to Find Solutions to Prevent 51% Attacks On The Blockchain

The Ethereum Classic Cooperative development team partners with Input Output Hong Kong (IOHK) to counter the numerous 51% attacks on the Ethereum Classic...

OKEx Exchange Resumes P2P Fiat Trading for Chinese Yuan, Indian Rupee, & Vietnamese Dong

Cryptocurrency exchange OKEx announced on Wednesday that it is resuming peer-to-peer (P2P) trading for CNY, INR, and VND fiat pairs from today at 12:00...

SEC Proposes $5 Million Settlement in Kik’s $100 Million Initial Coin Offering (ICO) for KIN

Kik Interactive, the embattled Canadian messaging startup, seems to have finally reached a settlement deal with the SEC regarding its illegal ICO back in...

First UK Public Listed Company, Mode Global Holdings, Converts 10% of Cash Reserves into Bitcoin

What started with public listed company MicroStrategy has now become a movement as more and more companies continue to join the ranks. This month, after...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today