How many crypto exchanges makeup 90% of the trading volume? 🤔
These are the Olympian gods of crypto, and they’re hogging 92% of the market depth and a whopping 90% of the volume.
Binance is the Zeus of this pantheon, flexing its muscles with more than 30% of global market depth and over 60% of worldwide trade volumes. The rest? They’re like the extras in a movie—there, but barely noticeable.
Good for the average Joe Trader, but let’s not forget, concentration also means vulnerability. When trading volumes shrink, market moves get as exaggerated as a fisherman’s tale.
Case in point: August. Trading volumes plummeted to the lowest of the year, a mere $2.09 trillion. And this happened despite the industry being awash in what should have been bullish news.
So, if you’re one of those traders who lives for volatility, you’re in luck. The market’s starting to look like a rollercoaster designed by a madman. Strap in. 🎢