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Binance’s market share in non -dollar crypto exchanges has declined by nearly 25% since the beginning of 2023. According to data, the projected market share for Binance in September 2023 will be 50.76%. Market share fell sharply in April before briefly recovering in June. It has since continued contracting. Source: The Block “Binance finished 2022 with a 75% market share among a group of platforms that also includes major Asian players like Upbit, Huobi, Bybit and OKX — but that figure declined steadily throughout the year, hitting 54% in August.” The Block In March 2023, Binance’s trading volume was $556.36 billion but fell to $192.12 billion by August. Analysts predict trading volumes to contract in September. Binance’s removal of zero fees for popular trading pairs may negatively impact activity and, thus, volume. You might also like: Binance’s Bitcoin volume plummets after end of zero-commission trading With Bi...

Although building a financial market that has grown behind the narratives of decentralization, the crypto currency industry’s liquidity is mostly concentrated among just a few centralized exchanges (CEX). In 2023, 91.7% of all the crypto market liquidity lies in the hands of only eight global entities: Binance, Coinbase, Kraken, OKX, KuCoin, Bybit, Binance.US, and Bitfinex. This is what a new report by Bankless Times noted on September 15.  Interestingly, the smart data platform Kaiko also recently reported a similar value of 91.7% of the entire liquidity concentrated among the eight largest centralized exchanges, and 58.5% of this liquidity is kept by two of them. Things get even worse when looking at the traded volume, 64% is dominated by a single CEX. Crypto liquidity concentration in 2023. Source: Kaiko Notably, the crypto market liquidity and trade volume have become more centralized since 2021, as by then, the dominant CEX only had 38% of the entire trading volume. A...

Regulatory uncertainty and the lack of transparency on stablecoins caused crypto markets to trade at its lowest levels in 3 months. The cryptocurrency total market capitalization fell to $1.02 trillion on June 15, its lowest level in three months. But while the derivatives market's resilience and end-of-week price gains amid uncertainty in stablecoins' reserves provides hope for bulls, it might be too soon to celebrate. Crypto regulatory conditions deteriorate The past few week have seen a bearish trend fueled by regulatory uncertainty. Last week, Bitcoin (BTC) and BNB saw 2.5% gains, but XRP dropped 5.2%, and Ether (ETH) traded down 0.7%. Total crypto market cap in USD, 1-day. Source: TradingView Notice that the 10 -week long pattern has tested the support level in multiple instances, signaling that bulls will have a hard time breaking from the bearish trend while regulatory conditions have worsened across the globe. For starters, New York-based derivatives exchange Bakkt is...

Cointelegraph analyst and writer Marcel Pechman explains how the Credit Suisse bank crisis will impact the crypto market. The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on day-to-day crypto activity. In today’s episode, crypto analyst Pechman discusses how to analyze banks — importantly, how to avoid the erroneous market capitalization indicator, which had a $15.8-billion value for the defunct Silicon Valley Bank (SVB). The enterprise value (EV) metric provides a much better picture of a bank’s balance sheet terms by subtracting net debt from market cap. Of course, Pechman first explains the relationship between Banking valuation and crypto currencies, specifically Bitcoin’s (BTC) ethos. The video explores the 2018 denial of The Narrow Bank’s application, a bank that would...

Jaime Leverton has led digital asset mining player Hut 8 over the past two years, wading through the waters of the bull market of 2021 and the bear market of 2022. In January 2023, during the World Economic Forum’s (WEF) annual conference in Davos, Switzerland, Jaime Leverton, CEO of Hut 8, a crypto mining entity that trades as a public company, sat down with me for a fireside chat at the Crypto Summit on the Promenade. Leverton outlined some of her views on the recent shakeout in the cryptocurrency market and reflected on how Bitcoin (BTC) mining fares during the current turbulent period for the industry. Throughout 2021 and 2022, the crypto industry experienced significant growth, followed by bear market struggles, bankruptcies and job cuts. Leverton took on the position of leading Hut 8 Mining as CEO a little over two years ago and experienced those ups and downs from the front line. Jaime Leverton CEO of Hut 8 (left) and Kristina Lucrezia Cornèr (right) during Crypto Summit 2023 i...