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Binance Accounts For 95% Of Bitcoin Volume – Get 150% Welcome Bonus Now!

• Binance is currently the leading cryptocurrency exchange by Bitcoin volume, with 95% of the total trading volume across Bitwise 10 exchanges.
• Trading volumes excluding Binance have declined 42% in the past week.
• A 7-day average trading volumes on both Binance and other Bitwise 10 exchanges have gone down recently, but the decrease has been much more dramatic on the latter platforms.

Binance Reaches All-Time High in Bitcoin Volume Dominance

Binance is currently dominating Bitcoin volume among Bitwise 10 exchanges, accounting for an all-time high of 95%. This number indicates that activity on other exchanges has fallen significantly compared to Binance in recent weeks.

Trading Volume Excluding Binance Drops 42%

According to a weekly report from Arcane Research, trading volume excluding Binance has dropped 42% during the past week. The “Daily Trading Volume” indicator measures the amount of Bitcoin being transacted on Bitwise 10 exchanges each day, providing an approximation for market trends in the entire sector. When values are high it suggests traders are active in cryptocurrency and when they’re low it means there isn’t too much interest in assets at present.

7-Day Average Trading Volumes Down Across Exchanges

A chart showing 7-day average trading volumes over the past year reveals that although both Binance and other Bitwise 10 exchanges have seen a decline recently, it’s much higher for those not associated with Binance (a 7% decrease compared to none for Binance). This could be because of fee removal on BTC pairs last year which made wash trading viable on the exchange due to zero fees policy.

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Overall, we can see that activity across all cryptocurrency exchanges is declining but activity on Binance has remained strong despite this trend – likely due to its zero fees policy making wash trading viable and attractive to investors looking for quick gains without paying any fees or commissions.