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Binance Surge: $42 Billion in USD Flows Through Crypto Exchange in June

August 05, 2019

Binance is getting bigger.

According to a recent report from CryptoCompare, the Malta-headquartered cryptocurrency exchange hit more than $42 billion in total trading volume in June – an average daily volume of more than $1.6 billion.

That’s a 12.7% increase from the previous month.

“Binance was the top crypto to crypto exchange by total volume in June at 42.1 billion USD (up 12.7% since May). This was followed by ZB and CoinBene at 39.3 billion USD (up 8.4%) and 38 billion USD (up 3.9%) respectively.”

Bithumb clocked in as the top fiat-to-crypto exchange with $13.9 billion in total trading volume in June, which represented a 37% drop from the previous month.

Coinbase at $12.7 billion (up 17.4%) and P2PB2B at $11.9 billion (down 22.9%) were the second and third largest, respectively.

CoinBene was the biggest trans-fee mining exchange with a total trading volume in June of $38.02 billion (up 3.9%). Bitforex, with $38 billion (down 2.3%), was second, followed by ZBG at $23.6 billion (up 20.8%).

“Exchanges that charge taker fees continued to represent 75% of total exchange volume in June, while those that implement trans-fee mining (TFM) represented 24%.

Fee-charging exchanges traded a total of 443 billion USD in June (down 2.6% since May), while those that implement TFM traded 144 billion USD (down 1% since May). The remaining volume represented trading by exchanges that charge predominantly no trading fees, at 0.6 billion USD.”

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.