OKEx and Binance were the two top-tier crypto assets trading platforms that stood out, and they probably made it due to Coinbase crashes and due to their various offerings to users.
Coinbase likely saw its Dwindle trading volume during repeated outages it suffered during significant cryptocurrency price movements, while other users opposed Coinbase's, and it is likely that they moved to other trading platforms.
Meanwhile, Binance and OKEx accounted for three-quarters of the spot trading volume seen in June. The exchanges OKEx and Binance traded more than $ 80 billion combined. According to CryptoCompare's June 2020 Exchange Review, Binance was the largest top-tier crypto exchange by volume in June, trading at $ 41.8 billion for the entire month, 19.6% less than what was traded in May. It was followed by OKEx, which traded $ 40.6 billion in June, down 29% from May. OKEx and Binance have solidified their offerings to users, allowing them to earn interest on their cryptocurrency holdings and enriching their derivatives portfolios with various cryptocurrency assets. As CryptoGlobe reported, OKEx has expanded its derivatives portfolio with ETH / USD options last month, with EOS / USD options planned for the near future.
Both also offer discounts to their users if they use their tokens, Binance's BNB and OKEx's OKB. In particular, OKB from OKEx has significantly outperformed both BNB and bitcoin in the past 12 months.
And in third place was Coinbase, which was trading at $ 6.86 billion, 38.5% less. In total, Binance and OKEx accounted for approximately 75% of the trading volume on the top 15 top tier exchanges.
To this we can add that Binance through a partnership with Etana Custody According to an announcement on July 7. Binance users will be able to instantly transfer their balance from the custodian to the stock exchange. Adding support for the UAE dirham, the Australian dollar, the Canadian dollar, the Swiss franc, the Czech crown, the euro, the British pound, the Hong Kong dollar, the Danish krone, the Hungarian forint, the Mexican peso, the Norwegian krone, the New Zealand dollar, the Polish złoty and the Swedish krona.
The maximum deposit and withdrawal limit depends on the level of the linked Binance account, while the minimum deposit and withdrawal limit is $ 150.
This is Binance's latest initiative to expand the exchange's influence in new markets. Binance CFO Wei Zhou made his expansion intentions clear.
"Integration helps make access to crypto assets easier for people in the markets of Europe, Asia, North America and Oceania."
"After linking Binance accounts with Etana accounts, our users will be able to transfer funds directly from their bank accounts to Etana, and then have their Eiat fiat balance credited to the corresponding Binance accounts instantly and free of charge at initiate a fiat deposit request on the platform. "
On the other hand, OKEx after an announcement on July 3, OKEx users can now buy Bitcoin (BTC) and Ether (ETH) in exchange for Argentine pesos (ARS), Brazilian reals (BRL) and Mexican pesos (MXN) through of a direct bank transfer. OKEx, is a major global cryptocurrency exchange, and is embracing the Latin American cryptocurrency market.
OKEx's association with a company called the Settle Network allowed him to enable these features. Settle Network is claimed to be the largest digital settlement network in Latin America. The new service is provided through, Latamex, the patented product of the Settle Network. Latamex is designed to allow the purchase of cryptocurrencies using local currencies in Latin America. This association will allow OKEx to work diligently with the Latin American market (LATAM).
Although Binance implemented a similar feature in late 2019, these are some of the reasons that explains why Binance and OKEx occupy three-quarters of the spot trading volume seen in June.
SOURCE:
cryptocompare.com
Thanks for reading have a great day or a great night whatever 🤗
