Binance overtakes Huobi, OKEx as biggest derivatives exchange

Binance overtakes Huobi, OKEx as biggest derivatives exchange

Overall trading volume was down on derivatives exchanges, but one day set a new yearly high.

Binance has overtaken Huobi and OKEx to become the largest crypto derivatives exchange by volume in the September figures with $164.8 billion across the month, according to the latest report published by U.K.-based data firm CryptoCompare, 

CryptoCompare looked at the trading volume of the top-tier exchanges and determined that Binance had seen around $8 billion more volume than its closest competitors, Huobi at $156.3B, and OKEx at $155.7B. BitMEX came in fourth with $56.4 billion in monthly volume for September.

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The figures show that BitMEX was in trouble even before its leaders were charged with failing to prevent money laundering and forced to resign. The exchange saw the largest monthly decrease, in percentage terms, of 30.7%.

Source: CryptoCompare

Huobi, OKEx and Binance accounted for about 90% of September’s derivatives volume between them, even as volumes eased month on month by 17.5% to $634.9 billion. CryptoCompare

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