Crypto Trading Picks Up Speed in Recent Months

In the last few months, trading of actual cryptocurrencies on big exchanges saw a significant jump. This change came after a slow start to the year.

Trading Volume Soars

• Top 10 Exchanges: Witnessed a 30.6% increase in trading volume.
• Implication: Indicates a substantial rise in the number of people buying and selling cryptocurrencies like Bitcoin.

Bitcoin's Price Surge

• August Peak: Bitcoin prices reached over $123,000.
• Impact: Likely encouraged more people to trade.

Complex vs. Simple Trading

Despite the rise in simple trading, complex financial products related to crypto remain more popular.

Exchange Market Share

Simple Trading

• Binance: The biggest exchange, handled about 43% of all simple trades.
• Other Exchanges: MEXC and Bybit had much smaller shares, around 9% each.

Complex Trading

• Binance: Led with a significant 31.3% share in September.

Growth of Smaller Exchanges

• Gate, KuCoin, and BingX: Showed notable growth.
• Market Dynamics: Indicates that even with big players, there's room for others to grow.

Market Outlook

The report suggests that the market is changing and getting more competitive.