Binance Surge: $42 Billion in USD Flows Through Crypto Exchange in June
Binance is getting bigger.
According to a recent report from CryptoCompare, the Malta-headquartered cryptocurrency exchange hit more than $42 billion in total trading volume in June – an average daily volume of more than $1.6 billion.
That’s a 12.7% increase from the previous month.
“Binance was the top crypto to crypto exchange by total volume in June at 42.1 billion USD (up 12.7% since May). This was followed by ZB and CoinBene at 39.3 billion USD (up 8.4%) and 38 billion USD (up 3.9%) respectively.”
Bithumb clocked in as the top fiat-to-crypto exchange with $13.9 billion in total trading volume in June, which represented a 37% drop from the previous month.
Coinbase at $12.7 billion (up 17.4%) and P2PB2B at $11.9 billion (down 22.9%) were the second and third largest, respectively.
CoinBene was the biggest trans-fee mining exchange with a total trading volume in June of $38.02 billion (up 3.9%). Bitforex, with $38 billion (down 2.3%), was second, followed by ZBG at $23.6 billion (up 20.8%).
“Exchanges that charge taker fees continued to represent 75% of total exchange volume in June, while those that implement trans-fee mining (TFM) represented 24%.
Fee-charging exchanges traded a total of 443 billion USD in June (down 2.6% since May), while those that implement TFM traded 144 billion USD (down 1% since May). The remaining volume represented trading by exchanges that charge predominantly no trading fees, at 0.6 billion USD.”