Binance’s total monthly volume of 42.1 billion USD ensures exchange’s dominance

Digital asset data provider, CryptoCompare recently launched a crypto exchange guideline which aimed at ranking exchanges. The latest report from CryptoCompare revealed an array of exchange volume rankings in various categories.

As per the report, Binance, the largest cryptocurrency exchange topped the “Crypto to Crypto Exchanges by Average Daily Volume” list with an average daily volume of 1.6 billion USD and a monthly volume of 42.1 billion USD in June. The report also indicated that the total monthly volume of  Binance was up by 12.7% since May.  The CZ led exchange currently lists about 185 coins and has 584 trading pairs. Binance not only triumphs in the exchange platform but has also witnessed immense success with its coin, BNB. Binance’s late entry into the coin game hasn’t hindered its growth as the multiple developments on the platform has pushed its coin into the top ten beating other prominent cryptocurrencies like TRX, BSV, USDT, etc.

With only 73 coins listed in it, the Chinese crypto exchange ZB stood second in the list with an average daily volume of 1.3 billion USD and a total monthly volume of 39.3 billion USD, which was about 8.4% more than May. ZB was further followed by CoinBene a Singapore-based exchange with an average daily volume of 1.2 billion USD with a monthly volume of  38 billion USD in June which is a 3.9% surge since May. The list also indicated that CoinBene listed about 224 coins making it the highest in the list.

The next list revealed the rankings of  “Fiat to Crypto Exchanges by Average Daily Volume”.

Despite the hack in March, Korean crypto exchange Bithumb made it to the top of the list with an average daily volume of 463.5 million USD and a total monthly volume of 13.9 billion USD. However, Bithumb reported a 37% drop in monthly volume since May.

Bithumb was followed by popular cryptocurrency Coinbase, which lists only 21 coins, recorded an average daily volume of about 424.1 million USD and a monthly volume of 12 billion which was 17.4% more than the monthly volume of May. P2PB2B exchange stood third despite a 22.9% fall in monthly volume since May.

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