year 2022 cryptocurrencies and it has been a tough year for investors as well as crypto exchanges.
Despite this challenging year, cryptocurrencies and Blockchain industry continues to evolve.
In this context, the world’s largest cryptocurrency exchange, which is one of the biggest stakeholders of this development. Binance It continues to expand its spot market share in crypto exchanges, according to the latest data.
Crypto market data provider, as reported by Coindesk CryptoCompare’In its latest report, Binance increased its market share from 59.4% in January to 61.8% in February.
Apart from that, Binance reached $504 billion with a 13.7% increase in spot volumes.
These figures mean that Binance has increased its market share for the fourth month in a row, reaching an all-time high market share.
This market share increase came as US regulators stepped up their review of Binance.
CryptoCompare research analyst Jacob Joseph said:
“Despite the recent criticism Binance has received, market participants continue to take shelter in Binance on the assumption that the largest exchange is one of the safer places to trade.
Binance is also one of the exchanges with the most trading pairs and services available. This is one of the reasons why investors and traders see Binance as attractive.”
*Not investment advice.
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