The Worlds Cryptocurrency Liquidity More Concentrated In CEX’s
Crypto liquidity is gradually becoming concentrated has the worlds exchanges are begun to acquire more of the industry trading volume. The insights was gotten from an analytical firm Kiko, says that at least eight top exchanges possessed 85.9% of the said volume. Binance still retains it's position as the first in the row.
Liquidity is concentrated and has become more concentrated over time. In 2023, the top exchange, Binance, has accounted for 30.7% of global market depth and 64.3% global trade volume. The top 8 largest platforms account for a whopping 91.7% of depth and 89.5% of volume.
Since 2021, Binance’s market share of spot volume has increased from 38.3% to 64.3%. It should be noted that a big part of this increase was linked to Binance’s zero-fee trading promotion.
The analyst firm says that the fact most of the industry’s liquidity concentrated in few exchanges it becomes more centralized regardless the industry advocates for a decentralized system.
If you see this post on a Web2 ecosystem and you have no clue about what Leofinance is here is a brief definition;
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Over here we refer to users as lions, so are you ready to be a lion here is my referral link See leoglossary for the terms used within this post also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in h growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.
Let’s also connect on some of the web2 platform.
Twitter:Hironakamura