Binance Remains Biggest Crypto Platform, Volume of Exchanges in Korea Surge
Blockchain Transparency Institute released the global crypto exchange rankings of November, ranking Binance at the top with a 24-hour volume of $1 billion.
With more than 160,000 24-hour web users, Binance easily surpassed OKEx, the second largest crypto exchange in the market, in terms of the number of active users, volume, mobile volume, web visitors, and API volume.
In comparison to Binance’s $1 billion daily volume and 160,000 daily users, OKEx achieved $700 million in daily volume from merely 30,000 users.
Exchanges Prey on Low Market Cap Coins
Throughout the past two years, since the rise in popularity of initial coin offering (ICO) projects, opaque listing fees and suspiciously high volumes of small market cap tokens have led to the initiation of controversial debates.
Beginning last month, as CCN reported, Binance has started to donate all of the listing fees it receives from projects to charity, partially to demonstrate the potential of crypto in transparently and efficiently financing charitable events and initiatives.
But, the Blockchain Transparency Institute team and its researchers have stated that many exchanges are still targeting low market cap coins with irresistible offers to manufacture fake volume and trading activity with the intent of increasing hype around listed coins on market data platforms like CoinMarketCap.
CCN |
https://www.ccn.com/binance-remains-biggest-crypto-platform-volume-of-exchanges-in-korea-surge/