Binance YTD trading volume double that of OKX, Coinbase and FTX combined CanadiansInvest
No single name in the crypto exchange market comes close to Binance. Since the beginning of 2022, the world’s largest crypto exchange has recorded a trading volume almost six times higher than the second-ranked OKX and even 14 times more than some other leading crypto exchanges., Binance’s year-to-date trading volume hit over $4.6trn, double that of OKX, Coinbase and FTX Combined.Undoubtedly, 2022 has been a rough year for the entire crypto industry.
Statista and CryptoCompare data shows that the world’s largest crypto exchange processed over $4.62trn in eleven months of this year, 51% less than the value seen in 2021. Nevertheless, Binance continued dominating the crypto exchange landscape. Before crashing down, FTX recorded a trading volume of $599bn, seven times less than Binance, and ranked fourth on the list. Huobi rounds the top five list with $404bn in year-to-date trading volume.
Its market leader position allowed Binance to be one of the first companies offering to bail out FTX. Still, the deal fell through as quickly as it was announced due to corporate due diligence, mishandling of customer funds, and alleged US agency investigations.
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