Binance, the largest crypto exchange by Coinmarketcap capitalization analysis, has overtaken other exchanges in trading crypto derivatives. In September, Binance overtook OKEx and Huobi to hit the top of the list of crypto derivative exchanges by traded volume.
According to a report by CryptoCompare, a U.K. data firm, Binance hit $164.8 billion in trading volume in September. Based on the exchange performance analysis, the data firm stated that Binance had seen $8 billion more volume than its closes competitors. Huobi recorded $156.3 billion, while OKEx recorded $155.7 billion. BitMEX was fourth with $56.4 billion in monthly volume. About 90 percent of all the traded volume came from Binance, Huobi, and OKEx.
According to the report, only FTX recorded an increase among the derivate exchanges. Showing a record of $23.89 billion, FTX recorded a 12 percent increase in volume in September.