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Skeptic’s lens: Volume to reach a 16-month high as Coinbase eats market share away from Bitfinex

Legitimate traded volume on spot cryptocurrency exchanges is projected to hit a 16-month high in July with roughly $117 billion — that’s more than three times as much as just six months ago. The last time volume was this high was in February 2018.

By looking at the stacked cryptocurrency volume, it’s easy to spot how dominant Binance has been. In July, Binance captured approximately 54% of the traded volume. Coinbase captured about 14% of the volume, followed by Bitfinex (~10%), Kraken (~8%), Bitstamp (~6%) and bitFlyer (~3%). The remaining exchanges all captured less than 2% of the total volume.

But Binance’s prominence has decreased since reaching a peak in March 2019.

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