Thisweek,thecentralizedexchanges’recordwasrelativelyhighintermsoftradingvolumes,withBinancemaintainingastrongleadinthissector.AccordingtothedatasharedbyPhoenix,theweeklytradingvolumewas$90.7Billion,makingBinancedominatethecryptocurrencymarket.ThistrendreflectsBinance’sstrongcustomerbaseanddiversetradingoptions,whichcontinuetodrawhightradingactivity.
TOPCENTRALIZEDEXCHANGESBYWEEKLYTRADINGVOLUME
#Binance#Cryptocom#Bybit#Coinbase#GateIo#OKX#HTX#MEXC#Upbitpic.twitter.com/bKuFbrspMP—PHOENIX–CryptoNews&Analytics(@pnxgrp)October28,2024
Crypto.comandBybitFollowBinanceCloselyinWeeklyVolumes
Crypto.comandBybitmaintainedcompetitivepositionsinthecentralizedexchangelandscape,securingimpressiveweeklytradingvolumes.Crypto.comrecorded$28.9Billion,solidifyingitsplaceamongtopCEXplayers.Meanwhile,Bybitachievedaweeklyvolumeof$22.8Billion,reflectingitsappealamongactivetradersandexpandingmarketinfluence.Thishighlightsthestrongdemandfortrustedplatformsamongcryptousersglobally.
Intotal,58activecentralizedexchangescontributetoarobust$193.17Billionweeklyvolume.Thisfigureindicatesthesustainedrelevanceandgrowingtransactionvolumeswithincentralizedplatformsdespitetheriseofdecentralizedfinance(DeFi).Additionally,thecumulativeactivityoftheseplatformsreflectsthebroadermarket’sappetiteforreliabletradingoptions,evenascompetitionintensifiesamongproviders.
TheCEXtoDEXRatioShowstheStability
Thecentralizedexchangetodecentralizedexchange(DEX)tradingvolumeratiostoodat14.18%.Thisratiosuggestsastablerelationshipbetweencentralizedanddecentralizedtradingenvironments,withCEXsmaintainingaclearlead.
SignificantCEXssuchasCoinbase,Gate.io,OKX,HTX,MEXC,andUpbitcontributetothedynamictradingvolume.Coinbaserecorded$15.0Billion,whileGate.iosaw$13.4Billion,$1.26Billion,$1.37Billion,$1.25Billion,and$1.20Billion,respectively,indicatingahealthycompetitivelandscape.Thetradingactivitiesacrosstheseplatformsreflectuserconfidenceandastrongliquiditybase,whichareessentialforsmoothtransactionsinthecryptocurrencyspace.
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