Bloomberg: Affected by the FTX incident, Binance's trading activity increased by 30% in November

2022-12-06 14:29:03

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ChainCatcher news, according to Bloomberg, the crypto data company Kaiko pointed out that driven by events related to FTX, the trading volume of major crypto exchanges increased by 23% to $70.5 billion in November. This round of growth was mainly driven by Binance, which saw a 30% increase in trading activity in November, when FTX's liquidity crunch ultimately led to its bankruptcy and severely impacted the cryptocurrency market.

Kaiko stated, "Binance may benefit as it showcased a strong image during the crisis, having the best liquidity among all centralized exchanges. The fall of FTX will also benefit U.S.-regulated exchanges like Coinbase and Kraken. Their trading volumes are also rising, while smaller exchanges are seeing a decline in trading volume, as users and institutions are cautious about offshore exchanges." (Bloomberg)

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