Binance Futures Soar — What’s Next for BTC?
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The CEX has a marginal lead over industry peers.
Binance, the current leader in centralized exchange trading volume, has cemented a leading position in the derivatives market as well.
While these numbers are strong, other benchmarks suggest that user activity may be dwindling.
Significant Dominance
Data analytics firm CryptoQuant shared a report from a community analyst, @JA_Maartun,
showcasing how the largest centralized exchange (CEX) is currently well ahead in futures trading volume.
The $2.55 trillion in futures volume was reached last month and is the highest level recorded for Binance this year, according to CQ’s graph. The previous peaks were in January, when it hit $2.43T, and May, which recorded $2.26 trillion. This jump followed a month of volatility and price records for both Bitcoin and a few altcoins, which likely brought in more traders.
OKX and Bybit also reported marginal volumes, with $929 billion and $1.09 trillion, respectively, and these figures have remained relatively similar throughout the year so far. The Changpeng Zhao-founded exchange remained the leader, by a wide margin, accounting for over half of the total volume across other major exchanges, including Kraken, Coinbase, Bybit, and others.
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