Binance, one of the biggest centralized exchanges, is leading the weekly trading volume charts with $113.6 Billion volume in the last 7 days. Here’s a full breakdown of the top centralized exchanges by their trading volume.
Top Performers: An All-Around View
The top centralized exchanges are arranged here according to their 7-day (weekly) trade volumes:
When it comes to the number of trading volumes, Binance is on the top. The exchange handled a huge $113.6 billion worth of trades last week, which was almost 30% of all the volume in the market. This huge share makes Binance even more of a top choice for crypto buyers all over the world.
On the other hand, Bybit made $24 billion and gained a faithful following among people who trade futures and options.
Aside from Binance, other platforms also made their mark, though not as much as Binance. One example is Gate.io, which had trades worth $20.1 billion and attracted people by listing new and emerging tokens. Coinbase, which is well-known in the U.S., handled $18.5 billion. Its easy-to-use interface and compliance with regulations made it attractive to American traders. Also, OKX and MEXC each put in $18.4 billion and provided advanced tools and features for buyers with more experience.
Upbit maintains its supremacy in the South Korean cryptocurrency scene with a weekly volume of $17.7 billion. HTX completed the list with lastingly $12.4 billion.
Weekly Compared to Daily volume
Leading the race once more with deals totaling $19.76 billion over the past twenty-24 hours was Binance. Following it were Bybit with a trading volume of $7.05 billion and Crypto.com with $11.65 billion.
Considered lesser exchanges, HTX and Upbit had daily volumes of $2.36 billion and $2.59 billion respectively.
Comparing these numbers to their weekly averages reveals some fascinating patterns that have been occurring. An example of this would be Crypto.com, which saw a discernible increase in daily activity, which may indicate that there was a surge in engagement or advertising initiatives that drove people to the platform.
What this means for investors and traders
For traders, higher trading numbers mean better liquidity, which means they can place large orders without having a big effect on prices. In this way, platforms like Binance and Coinbase really shine, which makes them great choices for high-frequency traders and big investors.
