Bitcoin
$47,298.57-1.51%
Ethereum
$3,512.49-1.34%
XRP
$1.08-3.91%
Cardano
$2.39-4.10%
Polkadot
$34.34-4.91%
Stellar
$0.326200-2.92%
Dogecoin
$0.235830-3.83%
Chainlink
$29.36-3.20%
Uniswap
$25.68-4.63%
Polygon
$1.36-0.71%
Litecoin
$182.99-0.91%
Bitcoin Cash
$633.46-2.75%
Algorand
$2.03+1.06%
Wrapped Bitcoin
$47,305.24-1.46%
Cosmos
$34.82+4.66%
Filecoin
$83.05-2.17%
The Graph
$0.845322-4.73%
Tron
$0.114056-4.43%
Ethereum Classic
$57.32-2.11%
Aave
$376.61-6.35%
Tezos
$6.60-3.36%
NEO
$49.75-4.00%
EOS
$4.93-3.12%
Monero
$262.07-3.20%
IOTA
$1.49-5.87%
BitTorrent
$0.004000-2.57%
Waves
$30.27+1.51%
Bitcoin SV
$155.29-0.50%
Maker
$2,937.84-1.27%
Dash
$204.39-0.28%
Decred
$140.12-2.61%
Decentraland
$0.834548-1.74%
ICON
$2.02-5.66%
NEM
$0.186967-1.57%
Zcash
$135.35-1.83%
Qtum
$12.56-2.58%
Bitcoin Gold
$67.88+0.13%
Yearn Finance
$34,465.00-4.62%
NuCypher
$0.324245-2.63%
OmiseGO
$8.62-1.97%
Basic Attention Token
$0.764817-3.26%
0x
$1.12+6.17%
Fetch.ai
$0.901247-6.64%
Ren
$0.997902-6.54%
Bancor
$4.12-2.75%
Band Protocol
$9.56+0.05%
Siacoin
$0.018673-3.63%
Kava.io
$6.26-3.37%
Nano
$5.59-2.05%
Loopring
$0.463417-4.16%
Storj
$1.40-3.34%
Civic
$0.520417-1.32%
Lisk
$3.56-2.18%
Numeraire
$44.18-2.13%
Orchid
$0.372827-1.35%
PAX Gold
$1,763.25-1.89%
Augur
$26.01-2.72%
Aragon
$5.92-2.39%
Enzyme
$118.75-5.16%
district0x
$0.175296-5.88%
Kyber Network
$1.83-0.84%
SingularDTV
$0.001204-12.70%
Tether
$1.00-0.00%
USD Coin
$0.999938-0.00%
Dai
$1.00-0.01%

Binance Extended Crypto Exchange Dominance During May Trading Frenzy

Binance led competitors in May with a monthly trading volume of $2.46 trillion, up 49% from April levels.

Jun 7, 2021 at 6:32 p.m. UTC
Updated Sep 14, 2021 at 1:07 p.m. UTC

Binance, the world’s largest cryptocurrency exchange, extended its dominance of the industry during a record trading frenzy in May. 

The exchange handled some $1.5 trillion of spot trades in May, a 63% increase from April, according to a report by CryptoCompare. That compares with an average increase of 39% for the 15 largest top-tier crypto exchanges. Huobi, the closest competitor, saw its spot volume slip by 6% to $271 billion.

The bitcoin price fell some 35% in May, the biggest monthly drop since November 2018, and the correction prompted a flurry of activity as investors rushed to reposition. 

Binance also extended its lead in the market for crypto derivatives in May, with a monthly trading volume of $2.46 trillion, up 49% from April levels.

No. 2 exchange OKEx saw a 51% increase to $999 billion, followed by Bybit's $574 billion, up 24%, and Huobi’s $536 billion, up 18.3%.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...