Binance’s market share lead, the world’s largest cryptocurrency exchange, is waning as its rivals gain ground. According to Kaiko, the share of the giant crypto exchange decreased from 90 percent at the beginning of the year to 73 percent. Meanwhile, Asian-focused exchanges OKX, Huobi and Bybit made gains. Following these developments, Binance stepped up its listings in futures transactions to increase its market share. So which cryptocurrencies are luckier?
These altcoins have a high chance of making it to the Binance futures list!
cryptokoin.comAs you follow from , Binance is facing regulatory challenges as the world’s largest crypto exchange. As a result, it has reduced zero-fee incentives for users. As a result, it is losing ground to other offshore cryptocurrency platforms. According to Kaiko’s spot trading volume data, Binance’s market share fell from 90% at the beginning of the year to 73% in mid-July. Meanwhile, OKX’s share almost doubled from January to 11%. Huobi and Bybit also increased their market shares, now representing 9% and 7% of global spot crypto trading volume, respectively.
In order to close this gap, Binance has recently been stepping up to list in futures. According to some experts, projects that are on the spot list of the stock exchange but not on the futures list are luckier in this regard. Additionally, those who are on Bybit’s list have a high chance when it comes to futures. The intersection of these two criteria provides the opportunity to reach a list. Accordingly, the following list represents this segment:
Multichain (MULTI), Nano (XNO), Rocket Pool (RPL), Illuvium (ILV), Voyager (VGX), BitTorrent (BTT), Neutron (NTRN), JUST (JST), Golem (GLM), Siacoin (SC) , Kadena (KDA), Steem (STEEM), Prom (PROM), Request (REQ), Sun (SUN), BadgerDAO (BADGER), Biswap (BSW), Bounce (AUCTION), Ampleforth (FORTH) and Civic (CVC) .
CME is on the verge of surpassing the giant stock market in futures trading
The regulated Chicago Mercantile Exchange (CME) is climbing up the list of the largest Bitcoin futures and perpetual futures exchanges by open interest, in a move reminiscent of the early stages of the 2020-21 bull run. Thus, it increases the threat to Binance, which is the biggest in this field.
With nominal open interest (OI) of $3.54 billion, CME was ranked fourth weeks ago, according to Coinglass. It is currently the second largest Bitcoin futures exchange after Binance. Notional open interest refers to the US dollar value locked in the number of active or open contracts. Binance maintains its top position. It is currently the largest offshore unregulated exchange with open interest of $3.83 billion. This figure is 8% higher than CME.
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