Eight exchanges handle 90% of crypto trading, Kaiko data shows
The majority of digital asset trading around the world is handled by just eight cryptocurrency exchanges, according to an analysis by Kaiko. The study revealed that only eight crypto exchanges handle 90% of the global crypto trading volume and hold as much as 92% of the market depth. Introducing: The #Crypto Liquidity Concentration Report 90% of liquidity is concentrated on just 8 exchanges liquidity has become more concentrated over time Binance accounts for 30% of global depth and 64% of volume Check it out:https://t.co/kInbfgGGkW — Kaiko (@KaikoData) September 8, 2023 Since the beginning of 2023, Binance has accounted for over 30% of the cryptocurrency market depth worldwide. It is also responsible for more than 64% of crypto trading volumes globally. The Changpeng Zhao-led exchange has maintained its status as the most significant player in the digital asset sector. However, per the report, its market depth has fallen nearly 12% since 2021. Other exchanges that hold...