- Binance claims to carry out more trading volume than any other competitor with estimated lifetime volume at $100 trillion.
- Second is OKX with $24.9 trillion showing there is a lot of space between the leading exchanges.
- The five largest exchanges (Binance, OKX, Bybit, Bitget and HTX) total more than $159 trillion transactions.
The largest trading exchange by trading volume Binance, has amassed an astonishing $100 trillion in trading across spot and derivatives, according to CCData. With this figure Binance occupies a top position on the map of the worldwide cryptocurrency scene and now it enters the ranks of the mature exchanges. Here the distance between Binance and the other exchange is substantial and this is a good example of the fact that Binance is way ahead of the other exchanges in terms of trading volume.
OKX Holds Second Place with 24.9 Trillion in Trading Volume
OKX is the second-largest exchange in terms of trading volumes of all time, processing $24.9 trillion but a fraction of Binance’s numbers. When comparing the trading volumes, one can see that Binance is well-entrenched within the cryptosystem, greatly outdoing its main competitor. OKX, however, has shown how relevant it is, and it was able to establish its station among the often-used exchanges worldwide.
Third, we have the Bybit platform with lifetime trading volume of $13.2 trillion, while Bitget trails closely behind in fourth place with $10.9 trillion Lifetime trading volume. It shows the customer support and trading platform both exchanges have been holding high volume trades consistently. From these numbers it can be inferred that despite their size, these exchanges arguably carry a certain level of power within this market space comparable.
HTX Makes the Top Five with 10.2 Trillion
Two other notable exchanges complete the top five with $10.2 trillion in volume – HTX. Despite occupying a relatively slender part of the trading market compared to the leading trading companies, the position of HTX among the top five indicates that the company has maintained significant trading volume, thus promoting the overall development of the trading market.
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This data shows that Binance is still many times larger than its competitors in the exchanges of cryptocurrency. A number of exchanges including OKX, Bybit, Bitget, and HTX present a tough competitive environment to Binance, but the latter still comes out on top as the market leader without much strain.
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