Binance Extends Dominance During May Trading Frenzy

[Fawpac2]

Binance, the world’s largest cryptocurrency exchange, extended its dominance of the industry during a record trading frenzy in May. The exchange handled some $1.5 trillion of spot trades in May, a 63% increase from April, according to a report by CryptoCompare. That compares with an average increase of 39% for the 15 largest top-tier crypto exchanges. Huobi, the closest competitor, saw its spot volume slip by 6% to $271 billion. The bitcoin price fell some 35% in May, the biggest monthly drop since November 2018, and the correction prompted a flurry of activity as investors rushed to reposition. Read more: Cayman Islands, U.S. and Gibraltar Are Top Crypto Hedge Fund Jurisdictions.Binance also extended its lead in the market for crypto derivatives in May, with a monthly trading volume of $2.46 trillion, up 49% from April levels. No. 2 OKEx saw a 51% increase to $999 billion, followed by Bybit’s $574 billion, up 24%, and Huobi’s $536 billion, up 18.3%.Source

[Giangphuong8489]

Binance is still the largest exchange in the world, and in May, when the big investors are less active, the weak-hands investors will buy and sell continuously mainly through Binance. I still trust Binance more than KuCoin and Huobi. The interesting thing is that a few days ago, staking on Binance had a bit of an issue, I think it's Binance's way of preventing users from redeeming tokens from staking pools.