92% of Bitcoin Spot Trades Are Processed by Binance

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Cryptocurrency exchange Binance is the clear leader in the spot market. According to data from Arcane Research, about 92% of transactions with Bitcoin are processed by the trading platform.

Binance accounted for about 45% of BTC in the spot market at the beginning of last year.

The cancellation of transaction fees in June and the bankruptcy of major competitor FTX led to a sharp increase in the number of Binance users. As a result, its share in the spot market rose to 47% in November.

According to CryptoCompare, Binance’s share amounted to 66.7% as of the end of last year. At the same time, the crypto exchange has remained the leading trading platform for traders over the past few years.