US accounts For 10% Of All Bitcoin Trade Volume
Only 9.49% of bitcoin trading volume occurs on registered US crypto exchanges, leaving platforms like Coinbase and Kraken out on tonnes of transactional revenue.
And, according to a new CCData report, American exchanges have been losing more and more of their share of bitcoin (BTC) trades since at least January 2023, with March being an unusually good month.
According to the data, bitcoin trading volume and most other token trading volume remain on Binance. Users traded $239 billion in crypto on Binance’s spot markets in June, a 12.6% increase from May.
Coinbase, which according to CCData accounts for 61% of bitcoin trading volume among US exchanges, has a much smaller share of the total pie, with only $30 billion compared to Binance’s nearly quarter-trillion.
Kraken’s total spot trading volume, at $16.2 billion, was half that of Coinbase.
(With inputs from Shikha Singh)
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