“There are no other evident ‘winners’ of 2022 other than Binance when it comes to the crypto market structure and market dominance. No matter how you look at it in terms of trading activity, Binance is the crypto market.”
Binance’s BTC spot market dominance was 45% at the start of 2022 meaning that it more than doubled, while its share of the BTC derivatives market increased by almost one third.The “spot trading volume” is an indicator that measures the total amount of Bitcoin being transacted on spot exchanges on any given day.
The report suggests the increase in Binance’s BTC spot market dominance predated the fallout of the second largest exchange by volume FTX, and began to surge after itThe exchange also made some notable acquisitions to boost its global coverage in 2022 such as the
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“There are no other evident ‘winners’ of 2022 other than Binance when it comes to the crypto market structure and market dominance. No matter how you look at it in terms of trading activity, Binance is the crypto market.”
Impressive! Binance has certainly made a mark on the crypto world. Their dominance in the BTC market and the DeFi space has been undeniable. Great to see the recognition they are getting. hodl DeFi cryptocurrency
Agreed! It's clear that Binance is dominating the crypto space. Their low fees, user-friendly platform & focus on innovation make it a powerhouse for people to HODL, trade & margin in. They're shaping the future of the DeFi market & beyond.
That's what zero fees will do for ya.
About 90 per cent of Binance’s overall revenues are derived from trading fees, which fluctuate with the price of bitcoin and other cryptocurrencies,
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