02-20-2023, 03:15 AM
Binance has more than 98% of all Bitcoin spot trading volume and continues to gobble
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/116k9qe/binance_has_more_than_98_of_all_bitcoin_spot/"> <img src="https://b.thumbs.redditmedia.com/FrPHv3H6G1ooK7kAGHoo94NoYcC1ufN9u2TSK8POuHs.jpg" alt="Binance has more than 98% of all Bitcoin spot trading volume and continues to gobble op the market share of other exchanges - how big of a problem is this?" title="Binance has more than 98% of all Bitcoin spot trading volume and continues to gobble op the market share of other exchanges - how big of a problem is this?" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>We all know that Binance is big and the biggest exchange. That is not news. But if one looks closely, it is insane just how big Binance really is.</p> <h1>Market share</h1> <p>The market share (total trading volume) of Binance has continuously grown over the past year in part due to the fall of one of its biggest competitors, FTX. I think this is visualized beautifully in the graph below, where the % market share of Binance is shown in green across the different months of 2022:</p> <p><a href="https://preview.redd.it/w1eedxbvt6ja1.png?width=1056&format=png&auto=webp&s=7d68f6d6d226fa98cb1c3118593830bdcc22d76d">Market share; Binance = Green (Source: CoinDesk)</a></p> <p>This trend has continues in 2023 as Binance gobble up more of the market share this year.</p> <h1>Spot volume of Bitcoin</h1> <p>If one looks at the Bitcoin volume per exchange (spot, not leverage trading), it becomes apparent that OVER 98% of the spot volume takes place on Binance!! This is a ridiculous number.</p> <p><a href="https://preview.redd.it/63vtsxw0t6ja1.png?width=1200&format=png&auto=webp&s=e4f8157be6042496ec259943bbe6e54fd7d39bab">24 hour volume per exchange for Bitcoin (Source: Coinanalyze)</a></p> <p>The continued dominance of Bitcoin's spot trading volume on Binance across time is shown in the graph below. Since 2018, Binance has basically taken over the market.</p> <p><a href="https://preview.redd.it/yiqgvtkzs6ja1.png?width=1920&format=png&auto=webp&s=fe699b2e99b24f5cf8888fa9a71783fb631d0a39">Bitcoin % share in spot trading volume (source: JA_Maartun on Twitter)</a></p> <p>​</p> <h1>Questions for the audience</h1> <ul> <li>How can Binance have such a big market share and how bad is that for us? This goes against the whole principle of decentralization.</li> <li>That 98% of the Bitcoin spot volume happens on Binance is absolutely insane. How is that possible?</li> <li>Is there anything that can be done to, uh, get more "decentralization" in this space and in the distribution of power across different exchanges?</li> </ul> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Beyonderr"> /u/Beyonderr </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/116k9qe/binance_has_more_than_98_of_all_bitcoin_spot/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/116k9qe/binance_has_more_than_98_of_all_bitcoin_spot/">[comments]</a></span> </td></tr></table>
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/116k9qe/binance_has_more_than_98_of_all_bitcoin_spot/"> <img src="https://b.thumbs.redditmedia.com/FrPHv3H6G1ooK7kAGHoo94NoYcC1ufN9u2TSK8POuHs.jpg" alt="Binance has more than 98% of all Bitcoin spot trading volume and continues to gobble op the market share of other exchanges - how big of a problem is this?" title="Binance has more than 98% of all Bitcoin spot trading volume and continues to gobble op the market share of other exchanges - how big of a problem is this?" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>We all know that Binance is big and the biggest exchange. That is not news. But if one looks closely, it is insane just how big Binance really is.</p> <h1>Market share</h1> <p>The market share (total trading volume) of Binance has continuously grown over the past year in part due to the fall of one of its biggest competitors, FTX. I think this is visualized beautifully in the graph below, where the % market share of Binance is shown in green across the different months of 2022:</p> <p><a href="https://preview.redd.it/w1eedxbvt6ja1.png?width=1056&format=png&auto=webp&s=7d68f6d6d226fa98cb1c3118593830bdcc22d76d">Market share; Binance = Green (Source: CoinDesk)</a></p> <p>This trend has continues in 2023 as Binance gobble up more of the market share this year.</p> <h1>Spot volume of Bitcoin</h1> <p>If one looks at the Bitcoin volume per exchange (spot, not leverage trading), it becomes apparent that OVER 98% of the spot volume takes place on Binance!! This is a ridiculous number.</p> <p><a href="https://preview.redd.it/63vtsxw0t6ja1.png?width=1200&format=png&auto=webp&s=e4f8157be6042496ec259943bbe6e54fd7d39bab">24 hour volume per exchange for Bitcoin (Source: Coinanalyze)</a></p> <p>The continued dominance of Bitcoin's spot trading volume on Binance across time is shown in the graph below. Since 2018, Binance has basically taken over the market.</p> <p><a href="https://preview.redd.it/yiqgvtkzs6ja1.png?width=1920&format=png&auto=webp&s=fe699b2e99b24f5cf8888fa9a71783fb631d0a39">Bitcoin % share in spot trading volume (source: JA_Maartun on Twitter)</a></p> <p>​</p> <h1>Questions for the audience</h1> <ul> <li>How can Binance have such a big market share and how bad is that for us? This goes against the whole principle of decentralization.</li> <li>That 98% of the Bitcoin spot volume happens on Binance is absolutely insane. How is that possible?</li> <li>Is there anything that can be done to, uh, get more "decentralization" in this space and in the distribution of power across different exchanges?</li> </ul> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Beyonderr"> /u/Beyonderr </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/116k9qe/binance_has_more_than_98_of_all_bitcoin_spot/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/116k9qe/binance_has_more_than_98_of_all_bitcoin_spot/">[comments]</a></span> </td></tr></table>