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Binance is still the most dominant cryptotrading network

Binance is still the most dominant cryptotrading network
Nov 6, 2018 by Rico Wise

Unsurprisingly, Binance turned out to be the leading cryptotrading platform with a daily trading volume accounting for 1 billion US dollars. With over 160,000 daily online clients, Binance seamlessly took over the lead, outracing OKEx exchange, currently the #2 digital currency exchange platform in the cryptomarket, it terms of active online customers, application volume, online guests, as well as the API volume.

In contrast, OKEx accumulated 700 million US dollars’ worth of daily trading volume from the modest amount of 30,000 customers. Over the past couple of years, from the emergence of ICO startups, lack of clarity and eyebrow-raising high trading volumes of lesser market capitalization altcoins have caused the start of debates filled with controversy.

Since October, Binance has reportedly began contributing its funds obtained from the listing tariffs on charitable purposes, in part to display the possibilities of cryptoindustry in terms of transparent and effective funding of charitable campaigns and events.

However, the Blockchain Transparency Institute, along with its analysis team have claimed that most of the cryptoexchanges remain aimed at lesser market capitalization currencies with promise of creating empty trading volume and cryptotrading activity aimed at creating inflated awareness connected with enlisted currencies on market data gathering services, such as CoinMarketCap.

According to the research of the Institute, dominant cryptoexchanges insisted on more expensive tariffs for listing the coin within the area of 5-60 BTC. In the upcoming months, thanks to the joint efforts of flagship cryptoexchanges, such as Binance and Gopax, to promote the legitimization of the market, doubtful activities in the cryptoexchange market are anticipated to fall shorter by the days.

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Binance is an international, multi-language cryptocurrency exchange
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2 of 450
OKEx is a digital asset exchange that provides financial services to global traders who use blockchain technology
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17 of 450
Cryptocurrency market cap rankings
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9 of 450

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