Binance Becomes Both Spot and Derivatives Leader

Cryptocurrency exchange Binance experienced a huge drop in trading volume last month. Binance’s overall October volume dropped 33.1 percent from the previous month to $ 75.7 billion. Meanwhile, cryptocurrency exchanges such as Huobi, OKEx, Coinbase and Kraken also accompanied Binance’s fall.

Cryptocurrency research firm CryptoCompare published its stock market report for October today. In the report, it was stated that Binance once again surpassed its competitors in terms of spot trading, but the total volume of spot exchanges decreased significantly. Meanwhile, the volume of derivatives exchanges remained partially constant.

Spot exchanges overview: Binance pulls to the top

Bitcoin (BTC) price exceeded $ 13,000 in October and renewed its annual record. However, this increase in the BTC / USD parity did not contribute to the trade volume in the spot market. According to the published report, the volume of exchanges evaluated in the Upper Segment decreased by 13.6% in October compared to September. Among the exchanges in this class, names such as Binance, OKEx, Coinbase, Bitfinex, Huobi Global took place. The spot volume shrank by 17.6% in total, to $ 557.7 billion.


Binance generated $ 75.7 billion in volume for the month, but that’s 33.1% below the number in September. Binance was followed by Huobi Global with $ 41.7 billion in volume, and OKEx with $ 32.1 billion. Coinbase, Kraken and Liquid came after these.

Derivatives market overview: CME grows

In October, when the spot volume fell by 17.6%, the volume of the derivatives market shrank by 2.4% compared to September. The total volume of the market throughout the month was $ 619.9 billion.

As in the spot market, Binance was the leader of the month in the derivatives market. The stock exchange achieved a volume of $ 164.8 billion from the derivatives market throughout October. Binance was followed by Huobi ($ 148.4 billion), OKEx ($ 125.8 billion), BitMEX ($ 58.3 billion).

Whereas; At the end of October, OKEx was the stock exchange with the most open positions in derivatives. The total value of open positions at OKEx reached $ 1.56 billion. Binance followed the exchange with $ 1.49 billion and Huobi with $ 1.07 billion.