Crypto exchange trading volumes have seen a significant surge in recent years, with some exchanges experiencing a 1,000% increase in trading volume within a single year.
In 2020, the total trading volume of all cryptocurrency exchanges reached $2.2 trillion, with Binance and Huobi being the top two exchanges in terms of trading volume.
The daily trading volume of Bitcoin on Binance alone has exceeded $10 billion on several occasions, demonstrating the massive scale of crypto trading.
The growth in trading volume is largely driven by the increasing adoption of cryptocurrencies by institutional investors, with many major financial institutions now offering crypto trading services to their clients.
What is Crypto Trading?
Crypto trading is the process of buying and selling cryptocurrencies like Bitcoin and Ethereum on online platforms called exchanges.
These exchanges act as middlemen, allowing users to trade digital currencies for other assets, such as traditional currencies or other cryptocurrencies.
A key aspect of crypto trading is the concept of leverage, which enables traders to control larger positions with smaller amounts of capital.
Leverage can amplify both gains and losses, making it a double-edged sword for traders.
Crypto trading volumes have been on the rise in recent years, with some exchanges reporting a significant increase in trading activity.
For example, Binance's daily trading volume has surpassed $10 billion in some instances, demonstrating the growing popularity of crypto trading.
Crypto traders can use various strategies, including day trading, swing trading, and long-term investing.
Each strategy has its own unique characteristics and risks, requiring traders to stay informed and adapt to changing market conditions.
Crypto exchanges often charge fees for trading, which can eat into a trader's profits.
For instance, Binance charges a 0.1% fee for spot trading, while Huobi charges a 0.2% fee for futures trading.
These fees can add up quickly, making it essential for traders to understand the costs involved in their transactions.
Top Crypto Exchanges
Binance is one of the most prominent names in the crypto exchanges industry, founded in 2017 and quickly reaching the number one spot by trade volumes, registering more than USD 36 billion in trades by the beginning of 2021.
Gemini is another big name, founded in 2014 by the Winklevoss twins, with more than USD 175 million in trading volume generated. The Winklevoss brothers also launched the Gemini Dollar token.
Coinbase is the largest exchange by trading volume in the United States, founded in 2012, and today it has customers in more than one hundred and ninety countries globally. It processes large trading volumes, reaching a total of more than USD 2 billion at the beginning of 2021.
Crypto.com Exchange is a Centralized exchange that ranks #37 on BitDegree Exchange Tracker, with a trading volume of $7,025,320,676 in the last 24 hours and $1.53T in the last 7 days.
Trading and Derivatives
Trading crypto derivatives has never been easier, with many exchanges now offering this service. Trading crypto derivatives comes with a certain amount of risk, just like with any other type of investment.
Huobi Global is one of the top crypto exchanges to trade derivatives, offering a percentage fee charged on each trade, with a taker's fee of 0.04%. FTX, on the other hand, was solely created to facilitate the trade of crypto derivatives and has quickly made a name for itself in the crypto derivatives niche.
Trading on-chain derivatives has grown significantly this year, with DEXs registering roughly $73 billion in transactions in 2023.
Trading Derivatives
Trading derivatives has become increasingly popular, especially with the rise of cryptocurrency's popularity. Trading crypto derivatives has never been easier, with cryptocurrency exchanges launching derivative trading options on their platforms.
Huobi Global is one of the top crypto exchanges to trade derivatives, founded in 2013 and offering a percentage fee charged on each trade, with a taker's fee of 0.04%. FTX, another option, was solely created to facilitate the trade of crypto derivatives and has been operational for only about two years as of 2021.
Trading crypto derivatives comes with a certain amount of risk, just like with any other type of investment. On-chain derivatives trading has grown particularly this year, with DEXs registering roughly $73 billion in transactions in 2023.
Hyperliquid has held the crown on the on-chain derivatives trading market for the fourth consecutive month, with a steady growth in volume peaking at $152.4 billion on Dec. 30. This volume is 101% larger than the amount registered last month.
MEXC has unveiled 300x leverage on futures pairs, unlocking more opportunities for investors. Buying and trading cryptocurrencies should be considered a high-risk activity, and it's essential to do your own due diligence before taking any action related to content within this article.
Monitor and Trade
Monitoring the performance of your favorite crypto exchanges is crucial for making informed trading decisions. Over two million crypto enthusiasts and professionals use our cutting-edge Top Crypto Exchange Tracker to stay on top of market trends.
With our tracker, you can access a wealth of data and metrics to help you navigate the complex world of crypto trading. Two million users worldwide have already discovered the benefits of using our tracker, and you can join their ranks today.
Our tracker allows you to enter unique competitions and start tracking the most important metrics of your favorite exchanges. This means you can stay ahead of the game and make more informed decisions about your trades.
Exchange Features and Statistics
Crypto.com Exchange is a major player in the market, with a significant volume of trades happening on the platform every day. It's valued in Bitcoin, making it a direct supply and demand indicator of the exchange.
The exchange's volume is a quantitative metric that calculates the number of cryptocurrency coins or tokens traded within the last 24 hours. This metric is a percentage increase from the previous 24 hours, giving users a clear picture of the exchange's activity.
Crypto.com Exchange's current volume dominance among all other exchanges in the market is a notable statistic. It's ranked as the overall exchange compared to all other crypto exchanges in the market.
The top pairs traded on Crypto.com Exchange are BTC/USD, ETH/USD, XRP/USD, XRP/USDT, and SOL/USD, making up 50% of the total combined volumes.
How Do They Make Money?
Crypto exchanges make money by introducing fees for processing transactions. These fees can come in different forms, but one of the most popular is percentage-based, which charges a percentage of the traded value.
Percentage fees vary significantly between platforms, so it's essential to do your research before selecting an exchange to work with. This can make a big difference in the long run.
Some exchanges also offer a flat-fee charge, which charges a set amount for every successful transaction. This might be a good choice for big-time traders looking to exchange large amounts of cryptocurrency.
Exchange Statistics
Crypto.com Exchange has a trading volume of $7,025,320,676 in the last 24 hours and $1.53T in the last 7 days, ranking it #37 on the BitDegree Exchange Tracker.
The exchange currently has 365 cryptocurrencies, 2 fiat currencies, and 739 markets, with the most popular trading pair being BTC/USDT.
Crypto.com Exchange offers a wide range of features, including spot and futures markets, margin and over-the-counter (OTC) trading, staking and lending, and trading bots.
The platform is KYC-compliant and can be accessed in over 100 international markets, with the exception of New York State.
Here's a breakdown of the top 5 trading pairs on Crypto.com Exchange, based on volume:
The top 5 trading pairs on Crypto.com Exchange account for 50% of the total volume, with BTC/USD being the most dominant trading pair, accounting for 26% of the total volume.
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