Arcane Research: Binance crushed almost the entire global cryptocurrency market
Arcane Research has published a report showing that in 2022, the dominance of the world's largest cryptocurrency exchange Binance in the market has grown significantly. In many ways, this was facilitated by the collapse of platforms such as FTX and Celsius. As of December 28, Binance holds 92% of the Bitcoin spot market and 61% of the BTC derivatives market. Spot trading volume indicator shows the total amount of bitcoin transactions on spot exchanges per day.
Arcane says there is no one that compares to the Binance crypto exchange in terms of performance. In fact, analysts say, Binance is the digital currency market itself. At the beginning of 2022, the crypto exchange occupied 45% of the spot market, that is, there was an increase of almost two times in a year. Plus an increase of a third of the share of the derivatives market.
