Cryptocurrency Q&A
Which cryptocurrency exchanges grew the most in 2020?
Which cryptocurrency exchanges grew the most in 2020?
SolitudeEcho
Tue Jul 09 2024
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6 answers
1508
In 2020, the cryptocurrency landscape underwent significant transformations, with numerous exchanges experiencing rapid growth. Amongst these, Binance stands out as a prominent contender, having expanded its user base and trading volume exponentially. Its strategic partnerships and innovative services have propelled it to the forefront of the industry. Coinbase, too, has made significant strides, leveraging its reputation and user-friendly platform to attract new investors. KuCoin, a relatively newer entrant, has also garnered significant attention due to its focus on altcoins and robust trading features. As we delve deeper into this question, it begs the question: which of these cryptocurrency exchanges truly grew the most in 2020, measured by metrics such as user growth, trading volume, and market capitalization?
6 answers
DigitalDynasty
Wed Jul 10 2024
Starting from $140 billion in January, the trading volume has escalated to $744 billion by December.
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CryptoAlly
Wed Jul 10 2024
According to CoinGecko, the trading volume of Bitcoin Perpetual swaps on the top-9 exchanges has experienced significant growth.
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CryptoPioneer
Wed Jul 10 2024
This signifies a staggering 531% growth throughout 2020, highlighting the immense popularity and liquidity of Bitcoin Perpetual swaps.
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Filippo
Wed Jul 10 2024
Among these exchanges, Binance has contributed the most to this expansion, accounting for 40% of the total increase, which translates to an additional $242 billion.
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Nicolo
Wed Jul 10 2024
Following closely behind is Huobi, which holds a 27% share of the growth, representing a further increase of $165 billion.
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