Trading volumes on the stock exchanges Coinbase and Bitstamp have decreased more than 70%
The largest American cryptocurrency exchange Coinbase has faced severe competition from Asian counterparts — Binance and OKEx. Trading volumes on the platform Coinbase dipped significantly since the beginning of 2018, while the dynamics of the Binance and OKEx remains stable, and sometimes positive.
From January to July, the trade volume on Coinbase dropped 83%, Bitstamp — 73%. At the same time, from June to July, the volume of trade on Binance grew by 21%, and OKEx last month set a new record.
Cipollone news Agency Diar:
“More than 50% of the volume of trade cryptocurrencies have on the largest of them — Bitcoin, Ethereum, XRP, Bitcoin and Litecoin Cash. The market decline has a major effect on major U.S. exchanges. The trade volume on Coinbase, Bitstamp and Kraken demonstrate a significant reduction.”
Despite the drop in the cryptocurrency market have been observed in recent months, Binance, exchange, distinctive feature of which is a wide selection of supported altcoins seem to be able to benefit from it can not be said about Coinbase.