NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Nearing Bottom? Key Indicators Suggest End Of Downturn–Bloomberg
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Nearing Bottom? Key Indicators Suggest End Of Downturn–Bloomberg

What Exchange Absorbed FTX’s Trading Volume? Report Answers

Reynaldo Marquez
Reynaldo Marquez
Last Updated: November 22, 2022 2:44 pm
2 mins read
FTX Binance BNB BNBUSDT

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In the wake of the FTX collapse, formerly the second-largest exchange in the world, its competitors are taking over its trading volume and market share. The nascent sector is still suffering the consequences of recent events; many crypto companies filed for bankruptcy or are in the process of raising emergency liquidity. 

Related Reading

Bitcoin whale FTX

FTX Contagion Creates Fear Among Whales And Old Hands, On-Chain-Data Reveals

1 year ago

The FTX’s fallout is taking its toll on the crypto market. Bitcoin, Ethereum, and other more prominent cryptocurrencies are trading in losses. No digital assets escaped the bloodbath recorded by the sector in the previous week. 

Binance FTX BNB
BNB’s price trends to the downside on the daily chart. Source: BNBUSDT Tradingview

The FTX Demise Creates New Winners In The Crypto Industry?

According to a report from analytics firm Messari, crypto trading venues saw a significant decline in aggregate interest following FTX’s bankruptcy. The trading venue represented about 25% of the crypto market’s global Open Interest. 

As seen in the chart below, the dynamics in the crypto market changed amid the FTX crisis. This platform’s Open Interest has migrated to its competitors. Binance was the most significant benefactor; the platform absorbed most of FTX’s former Open Interest. 

FTX FTT Binance
Source: Messari

Nevertheless, the above chart hints at a tale of despair and panic rather than a race with one single clear winner. The Open Interest for crypto exchange platforms plummeted by over 43% in the past week. Messari noted: 

Binance was the main beneficiary of the FTX Official collapse, gaining 9.6% in market share. DeFi failed to capture any meaningful volume in the fallout continuing to hover around 3%. A limiting factor for DeFi’s ceiling remains expensive transactions and slow block times.

In addition to capturing a critical portion of FTX’s Open Interest, market participants migrated to Binance to trade digital assets. The platform saw a spike in its market share for Perpetual Trading Volume. This metric increased from 57% to 67%. 

Binance Dominates Crypto Exchange Sector

In the nascent industry, users believe Binance and its CEO Changpeng “CZ” Zhao capitalized on FTX’s vulnerability to take over the sector. CZ denied this claim by stating that the industry suffered from its competitor’s collapse. 

However, Messari’s data presents a different picture and hint at the formation of a new landscape in the industry. Additional data from Token Terminal indicates that Binance Coin (BNB) saw an uptick in its trading volume in November. 

Related Reading

Latest Findings Show Bitcoin Holders Under Fire As The Price Continues To Sink

Latest Findings Show Bitcoin Holders Under Fire As Price Continues To Sink

1 year ago

The turmoil created by FTX briefly benefited Binance’s native token. Although, BNB’s trading volume has declined following the general sentiment in the crypto market. 

FTX Binance BNB Chart 2
Binance Coin trading volume for the past 30 days. Source: Token Terminal
Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Probes $73,000 Liquidity Pocket: Is The Next Leg Toward $80,000 Loading?

Bitcoin recently pushed into a key liquidity pocket near the $73,000 level, briefly tapping overhead liquidity before encountering a sharp...

Godspower Owie 3 hours ago
Bitcoin

Bitcoin Fear & Greed Index At COVID- And LUNA-Crash Low — What’s Next?

The price of Bitcoin put in another interesting performance over the past week, as the global uncertainty continued in the...

Opeyemi Sule 4 hours ago
Solana

Solana Key Indicator Flashes First Bullish Signal Since January – Market Rebound Incoming?

Solana (SOL) may be on the cusp of a major market rally after the SuperTrend indicator turned bullish for the...

Semilore Faleti 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum

Ethereum Price Coils Near Key Resistance: A Breakout Could Be Explosive

Godspower Owie 21 minutes ago
Bitcoin price

On-Chain Data Shows Why Bitcoin’s Next Stop Could Be At $82K

Opeyemi Sule 1 hour ago
Bitcoin

Bitcoin Crash Far From Over? Analyst Shares How Painful Bear Markets Can Get

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • CreditBlockchain

    CreditBlockchain cloud mining helps users earn up to 0.078...

    1 month ago
  • モネロが686ドルで史上最高値を更新、時価総額トップ11入り──1月に注目のアルトコインは?

    ...

    2 months ago
  • ChatGPTが分析:2026年の仮想通貨 1000倍候補はどれか

    ChatGPTが分析:2026年の仮想通貨...

    2 months ago
  • 新しい仮想通貨:2026年に注目すべき3銘柄、次に急騰するコインはどれか

    ...

    2 months ago
  • ドージコイン 今後:ミームコイン市場に投機売買が再び戻る

    ドージコイン...

    2 months ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.