Binance occupied BTC's spot market by over 92% at the end of 2022

After the collapse of the FTX trading web, data from Arcane showed that Binance trading web has become an overwhelming "winner" in the BTC spot market in 2022.

Ref. Arcane crowns the exchange 2022's winner (fxstreet.com)

As of December 28, last year, Binance already occupied 92% of the Bitcoin (BTC) spot market and 61% of the BTC derivatives market by volume.

Back at the beginning of 2022, Binance's takeover of the BTC spot market was 45%, meaning that the figure at the end of the year was more than doubled. Meanwhile, its share in the BTC derivatives market has increased by nearly a third.

The report points out that Binance's rise in BTC spot market dominance comes ahead of the collapse of the second-largest trading site, FTX, and it began to rise after fees for some trading pairs were lifted on July 7, 2022.

Source Link: cointelegraph

Picture credit: LINK