As is seen in the world of cryptocurrencies, change is not the exception but the rule. As reported by Phoenix, a source of news related to crypto, Binance, and Crypto.com has been at the forefront as far as weekly trading volume is concerned.
TOP CENTRALIZED EXCHANGES BY WEEKLY TRADING VOLUME #Binance #Cryptocom #Bybit #HTX #Upbit #OKX #LBank #GateIo #MEXC pic.twitter.com/6n5KgGZUay
— PHOENIX – Crypto News & Analytics (@pnxgrp) September 19, 2024
These centralized exchanges (CEXs) are leading and aligning with the market’s evolution and the confidence users have placed in them globally.
Binance, the king of the exchanges, registered $37.2 billion in weekly trades. Being the largest cryptocurrency exchange based on trading volume and users, Binance remains active in expanding its offerings.
After Binance, the next leading CEX is Crypto.com, which has traded $14.4 billion in weekly transactions. This CEX has also been involved in massive marketing campaigns and has products such as wallet apps and Crypto-linked debit cards.
The Weekly Trading Volume Of Other CEXs: ByBit, HTX, OKX
ByBit has a good reputation for customer service has been quick to offer trading competitions, and has a weekly trading volume of $13.3 billion.
HTX has been able to attain significant trading volumes, thus proving the market’s versatility and liquidity. Its weekly turnover of $6.4 billion has been attributed to its strong performance in specific regional markets and competitive trading fees.
Upbit’s weekly trading volume is $5.6 billion. Upbit has also been very active in implementing security technologies, which has been vital in attracting new and old traders.
OKX and LBank have steadily increased weekly volumes, hovering around $4.9 billion and $4.3 billion, respectively. OKX has all the basic trading options. While LBank has been working on the possibility of adding DeFi services.
GATE.io and MEXC both are trading at a weekly volume of about $4.2 billion, underlining the high market competition level. GATE.io is known for the early listings of potential high-growth tokens, while MEXC is known for its easy-to-use trading interface and mobile platform support.