• May 21, 2024

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Binance Handles Over 90% of Bitcoin Spot Trades

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Cryptocurrency exchange Binance, the largest trading platform in he world, occupies a leading position in the spot market.

According to Arcane Research experts, about 92% of transactions with Bitcoin are processed by this trading platform.

At the beginning of last year, Binance accounted for about 45% of the largest digital currency in the spot market, which means the figure has increased significantly over the past year.

The cancellation of transaction fees in June and the bankruptcy of FTX has benefited Binance which saw in November its share in the spot market rise to 47%.

According to CryptoCompare, Binance’s share stood at 66.7% as of the end of last year. At the same time, the crypto exchange has remained the leading trading platform for traders over the past few years.