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Coinbase Has More US Traders Than Other Top Exchanges Combined

  • Alex Morris
    📊‍ Infographics

    Bitfinex is the only cryptocurrency exchange from the pack where US traders do not occupy the biggest share of users


Coinbase Has More US Traders Than Other Top Exchanges Combined
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Coinbase, an $8 bln crypto startup, is enjoying hegemony on the US market with more than 8.5 mln of its users coming from the US. For comparison, Binance, a major competitor of the Brian Armstrong-led exchange, has only 3.3 mln users.

Coinbase asserting its dominance   

A brand-new DataLight study highlights the major markets of four most popular cryptocurrency exchanges (Coinbase, Binance, Bittrex, and Bitfinex). Not surprisingly, Coinbase rules the roost when it comes to the Anglosphere (60.14 percent of its users come from the US and 7.14 percent come from the UK).

Earlier, U.Today revealed that the San Francisco-based exchange leads the pack by both desktop and mobile users.   

Beyond the US

Binance has a sizably smaller share of US users – 24.16 percent, but it excels in other markets, such as Russia (6.01 percent) and Turkey (5.05 percent).

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When it comes to Bitfinex, the US is not even its largest market – Germany takes first place with 13.45 percent. Meanwhile, Bittrex has plenty of traders from India despite the infamous RBI crypto ban.

Cover image via u.today
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Institutional Interest in Bitcoin Continues to Grow: Report

  • Alex Morris
    📊‍ Infographics

    Institutional Bitcoin trading volumes have been on the rise since the beginning of April, but there is only one winner in this game
     


Institutional Interest in Bitcoin Continues to Grow: Report
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According to a new study published by Blockchain research firm Diar, institutional Bitcoin trading volumes are growing for the fourth consecutive month. The fact that the number of CME futures contracts skyrocketed since the beginning of April is the icing on the cake.

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CME’s dominance

 As reported by U.Today, CME Bitcoin futures saw their daily trading volume increase by a whopping 950 percent with 22,542 contracts on Apr. 4. In fact, the sudden rise in Bitcoin price was linked to the expiration of CME futures.  

So far, that level of interest remained steady with 11,873 contracts traded on Apr. 11.


Institutional Interest in Bitcoin Continues to Grow: Report

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The only winner

With CBOE pulling the plug on Bitcoin futures due to its inability to compete with its Chicago-based rival CME, there is a clear winner in this race. While Diar calls CBOE ‘the biggest loser’, Grayscale's Bitcoin Investment Trust (GBTC) is not exactly on the winning side, either. It now accounts for 24 percent of the market, lagging behind CME (a far cry from its 50 percent market share back in January 2018).

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New heights

The dominance of institutional products has been steadily rising since January. As of April, institutional money is responsible for 19 percent of the total Bitcoin trading volume (almost 8 percent more than during the market peak in January 2018). However, it has yet to match its 24 percent market share that was recorded in July.

Cover image via u.today
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