In 2022, trading volume on centralized exchanges such as Coinbase, Kraken and Binance plunged more than 46%, according to data compiled by CryptoCompare.
According to numbers shared by data provider CryptoCompare, the monthly trading volume of the bitcoin-tether pair fell to 6.6mn coins in December.
Binance took a dominant percentage of market share among the top centralized exchanges in the last three months of the year, increasing from 48.7% in the first quarter of the year to 66.7% in the last quarter, according to a CryptoCompare.
Crypto exchange Binance processes more transactions than most of its rivals combined, accounting for roughly half of crypto spot trading and two-thirds of derivatives trading, according to CryptoCompare.
The exchange, which has licenses to operate in jurisdictions around the world but no formal headquarters, boosted its market share to more than 52% in spot trading, according to data from CryptoCompare
In the first seven days of December, 4,545 bitcoin were withdrawn from centralised exchanges, compared with inflows of 3,846 bitcoin in the same period last year, according to CryptoCompare.
Since FTX’s failure — which stranded what may amount to billions in user funds — Bitcoin has seen its largest outflows from exchanges in history, according to data firm CryptoCompare.
Crypto-fund asset managers like Grayscale Investments, CoinShares International Ltd. and others saw investors withdraw $19.6 billion in November, according to research firm CryptoCompare.
Four days later, November volumes had surpassed the whole of the month before, according to CryptoCompare.
Serum’s total market value was $88mn on Saturday, according to data provider CryptoCompare, suggesting FTX’s holdings would be worth far less if sold into the market. CryptoCompare’s figures take into account the coin’s liquidity.
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