Binance Tops The Position In Derivative Exchanges

Digital currency market report provider, CryptoCompare has shared that Binance has become the largest crypto exchange by market capitalization. It is also leading the derivatives market in September, in terms of the traded volume. It also overtakes exchanges like Huobi and OKEx. However, there was a decrease in the trading volume across the major venues in the past month.

The report of CryptoCompare states that Binance records $164.8 billion for all the derivative products traded throughout the past month. The leading exchange overruns the closest derivatives exchange, with about $8 billion. Other exchanges like Huobi, OKEx, and BitMEX gained $156.3B, $155.7B, $56.4 billion in the monthly derivatives trading volume for September.

In the past month, all the major derivatives platforms saw a decrease in the trading volume. The top four derivatives exchange, including Huobi and Binance, recorded below 90% of the volume traded throughout September. Binance trading volume recorded in August decreases to 10.7 percent followed by Huobi (25.8 percent), OKEx (18.5 percent), and BitMEX, which took the most at 30.7 percent.

The only derivatives platform that showed a positive trading volume in September was the FTX exchange at $23.89 billion. It recorded a 12 percent increase from its previous record in August.