Binance Extends Dominance, Getting Over 50% of Market Share

Binance Extends Dominance, Getting Over 50% of Market Share

While Bitcoin trade volume collapsed around 55% in January and February 2019 versus the same months in 2018, Binance has managed to increase its market share while others have reduced its piece of the cake, according to the latest report by the research firm Diar.

The latest Diar report says that while demand rose 45% between 2017 and 2018, most of it happened in the Q1 2018, the last three quarters of 2018 saw steady demand for BTC.

However, January and February have seen the lower BTC volume in years. 
In this framework, Binance increased its market share and returned to levels not seen since September 2018, with its market share retuning above 50% for the first time in five months.

Other big exchanges like Coinbase, Bitfinex, Kraken, and Gemini saw declines in the same item.

Bitfinex is experiencing a dramatic situation as the exchange fell from over 60% of market share in October 2017 to 20% in February 2019. 
In the same line, Coinbase saw its market share against major exchanges dropping from a 2017 average of 24% to half in 2018.

According to Diar, “with Bitcoin’s volatility down 82% in comparison to the start of 2018, it is unlikely that trading activity will gain much speed bringing back the sunshine exchanges basked in last year.”

BTC Miners Revenues Down, But Gross Margin Up

Bitcoin mining revenues dropped in February to its lowest level since August 2017; however, the odds are changing now with gross margins shifting back up. BTC prices also rose.

According to Diar, miner revenues declined to 19-month lows after posting its sixth decline in the last seven months. However, fees have also declined while the average BTC/USD price has remained stable in the last two months. 

Diar is expecting now that mining operations will increase capital expenditure on mining equipment. As a sample of that, Bitmain’s S15 miner has already sold out twice. 

While it is likely that hash power’s increase, the mid term will generate a massive price drop, miners will benefit from the S15, “averaging 84% more return than it’s predecessor, the S9.”

Recently Similar News

cex-promotion exmo-promotion

Latest Guides

Latest News

CoinEx,Investment,Margin Trading,Promotion

CoinEx Offer 30-Day Interest-Free Borrow Of First Margin Trade

After the reveal of three separate promotions this time last week, CoinEX are back again with a brand-new promotion that allows users to borrow their first trade free of charge for 30 days. Now in its second month of existence, CoinEx’s margin trading service has been quite a hit amongst users and with new updates […]

17 August, 2019
Exchange Platforms,Exmo,Investment,Listings

Exmo Announce Details of ROOBEE Listing

In 10 days, Exmo will be offering the latest token on their platform for trading, ROOBEE. In anticipation of this, they have released important details for traders who are looking to take advantage of the new listing early on. What is most unique about this latest listing is that it will coincide with the listing […]

17 August, 2019

Coinbase Becomes World’s Largest Crypto Custodian

Following the acquisition of Xapo, a bitcoin wallet and cold storage location, Coinbase Custody is now the world’s largest crypto custodian. After the completion of the deal, Coinbase Custody officially surpassed $7 billion in assets, which saw them reach the highest volume of assets in the business. Officially making them the most popular choice for […]

16 August, 2019

Exmo Have Reduced Their BTC Withdrawal Limit By 5x

EXMO has made new changes to the minimum withdrawals of bitcoin from their platform. The platform informed users on Tuesday, 13th August, that the limit would come into immediate effect. With the new limit for withdrawals being set at 0.002 BTC, which sees a decrease by 5 times. Users have been told to consider this […]

15 August, 2019
De Fi,Decentralised,Exchange Platforms,Trading

Ethfinex To Rebrand as De-Fi

Ethfinex has announced that it is set to close down its existing operations in order to rebrand itself under the title, De-fi. The news was announced via a blog post where it described the plan as its “biggest milestone yet.” The aim of the rebrand is to move towards a more decentralised exchange platform. Feeling […]

15 August, 2019
CoinEx,Exchange Platforms,Options Trading,Updates

A Quick-Look at CoinEX’s New Options Trading Service

Monday saw the launch of CoinEx’s new options trading service. We took a look at what it promises users of the service. Following the launch of their accelerator programs, futures trading and margin trading on their platform, CoinEx latest new options trading service is the latest in the line of new products from the platform. But, […]

14 August, 2019
CEX,Listings,Tokens Announces Listing of Two Ontology Project Tokens have confirmed that new tokens will be available for trading on their platform, ONT and ONG, both of which are part of the Ontology Project, a public blockchain protocol with high performance. While part of the same project, the two coins are unique in their purpose and function. ONG operates as a utility token […]

14 August, 2019
Exchange Platforms,KuCoin,Listings,Tokens

KuCoin Reveal New Listing, Enecuum (ENQ)

KuCoin has released news of their second new listing in a week, Enecuum. Following the listing of the security firm Fortnoxer’s token last week, KuCoin has followed it up directly with the release of Enecuum for trading on their platform. While Enecum may have had a lower profile than its predecessor, following a private sale […]

13 August, 2019