Š”ryptocurrency market has grown significantly in the recent years. However, out of ten largest exchanges in 2016, only two remain in the lead.
According to Coinmarketcap, in August 2016 Okcoin.cn was the largest crypto exchange in the world with daily volume at $440 million. Today it occupies the 188th place and processes about 17 thousand dollars. Second place in 2016 was held by BTCtrade, generating daily volume of $218 millions. Today this platform is positioned at number 54, and trades $23 million daily.
Huobi managed to maintain its leading position, though it moved from the third place to the fourth, despite the increase in daily volume from $165 million to $1.3 billion. Kraken used to be #10 in 2016, where it remains today. Some cryptocurrency exchanges such as BTCC and CHBTC ceased to exist.
A rotation like this underscores the instability of the cryptocurrency market. At the same time, experts point out that exchange volumes keep growing. In 2016 Coinmarketcap identified 105 crypto-exchanges, whereas there are already 213 of them today. However, only 60% of the platforms that existed in 2016 boasted daily volume of more than $10000. According to 2018 data 90% of exchanges can claim that now. In 2016, daily volume of the top 10 crypto-exchanges was about $1 billion, a number that has grown to nearly $11 billions today.
By Nadya Astam