Binance is dominating the crypto spot market, extending its spot market share across crypto exchanges for a fourth consecutive month.
Data culled from market data provided by Crypto Compare by CoinDesk shows that the world’s largest crypto exchange market share increased from 59.4% in January to 61.8% in February.
Also, Binance had a 13.7% increase in its spot volumes to $504 billion, an all-time high market share for the exchange.
The exchange’s dominance could be attributed to the vast amount of liquidity available on Binance.
Coinbase is second to Binance in volume, trading $39.9 billion (down 29% from the previous month), followed by Kraken, which traded $19.3 billion (down 11%.)
